From: Anne-Marie Miller (amiller@efg.net)
Date: Sun Oct 22 2000 - 16:32:35 EDT
You could considerthe interest paid on this "loan" if you have a signed
promissory note from the borrower. Without it, it would not be considered a
loan, thus the interest paid would not fall under the TRA provisions.
Anne-Marie Miller
EFG Technologies
800/458-4492, ext. 2259
________________________
An active member of COHEAO
-----Original Message-----
From: Sunby, Jean [mailto:jsunby@mail.mcw.edu]
Sent: Friday, October 20, 2000 1:18 PM
To: bursar-l@virginia.edu
Subject: student loan interest deduction
We have an emergency loan program. The students can borrow up to $500 and
they must repay it with the next loan check that comes in. The intent, of
course, is to tide someone over when their funds are late but since we don't
require anything more than full time enrollment, this doesn't always happen.
One of our former students was dismissed and still has one of these loans
out. Do you think the interest she pays on this would be tax deductible?
Thanks in advance
Jean Sunby
Medical College of Wisconsin
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