Will college loans reduce my tax return?

Posted on December 2, 2010

Question by jennifer_currey2000: Will college loans reduce my tax return?
I just got a w2 from my college and I have over 3,000 in scholarships and grants for 2008. Me and my husband both work and we have dependents. Will it reduce our tax refund?

Best answer:

Answer by altaira_3
No. Your financial aid does not affect your tax returns at all. The only way a student loan will ever affect your tax return is if you default someday, then they will take your return.

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