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Question for the Money Doctors

Question submitted on Feb 27, 2012.

Question

My wife went back to college to get her teaching certification 4 years ago after already earning a bachelors degree 20 years ago. Is the interest on her student loan from her teaching certificate program deductible? Some things I read say it must be for a degree, so I am asking about the certification. Thank you.

Answer

The student loan interest deduction requires that an eligible student, with respect to any academic period, is a student who is enrolled or accepted for enrollment in a degree, certificate, or other program leading to a recognized credential at an eligible institution of higher education, and is carrying at least 1/2 the normal full-time work load for the course of study the student is pursuing. Your wife's interest would qualify for the student loan interest deduction (assuming she was at least a 1/2 time student) because she was seeking a "certificate, or other program leading to a recognized credential." 


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