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