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New Member

2 of my University children have a student line of credit through the Royal Bank which I pay the interest on...am I allowed to claim the interest paid?

can we claim interest paid on our children's student line of credit from the Royal Bank?

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New Member

2 of my University children have a student line of credit through the Royal Bank which I pay the interest on...am I allowed to claim the interest paid?

No.  Only the student can claim the interest paid on their student loan.  Furthermore, they can only claim the interest paid in respect of certain types of student loans. For more info, please see http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns300-350/319-eng.html

 

 

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New Member

2 of my University children have a student line of credit through the Royal Bank which I pay the interest on...am I allowed to claim the interest paid?

No.  Only the student can claim the interest paid on their student loan.  Furthermore, they can only claim the interest paid in respect of certain types of student loans. For more info, please see http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns300-350/319-eng.html

 

 

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