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Why does Canada's student-loan interest credit belong to the borrower even when someone else helped make the payments?
Families in Canada often treat student-loan interest like a household burden that whoever paid should be able to claim. Please explain why CRA keeps the credit with the actual borrower, why only certain government student loans qualify, and why refinancing can quietly destroy the tax result people expected.
Related Questions
Why does Canada let some scholarship income disappear from tax while still making students prove what the award was meant to support?
Students in Canada often hear that scholarships are tax-free and stop thinking there. Please explain why CRA still runs the answer through the scholarship exemption rules, why qualifying-student status matters, and why a T4A slip does not always mean the same thing as taxable income.
Why does Japan's working-student deduction depend on both study status and the shape of the student's income?
Students in Japan often hear about the kinrogakusei deduction and assume it is simply a reward for balancing school with part-time work. Please explain why the deduction is still more selective than that, why the type and amount of income matter, and why some students need formal school proof as well as pay records.
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