No, student loans are not considered scholastic income.
Scholastic income is usually reported on a T-slip or Relevé (RL) slip. It can include:
- scholarships, fellowships, bursaries, study grants, and artists' project grants (T4A, RL-2)
- research grants (T4A, RL-1)
- withdrawals from an RRSP as part of the Lifelong Learning Plan (T4RSP, RL-2)
- payments from a registered education savings plan or RESP (T4A)
- tuition paid as part of a government-sponsored program such as Career Transition Assistance or Skills Development (T4E, RL-6)
- financial assistance for worker training (RL-20)
For more information, please see our TurboTax FAQ. How do I report student loans or a student line of credit?
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