rsob...[at]gmail.com wrote:

- quote -

Loan proceeds are not income. Paying the principle of a loan
does not create a tax deduction.

If the loan proceeds were used to pay qualified education
expenses the student, or the person claiming the student as
a dependent, may qualify for an education credit or a
tuition deduction.

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- >

Are Stafford Loans considered taxable income? If they were
used to pay for qualified educational expenses?

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >