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Your dependent. Generally, your dependent is someone who is either a: • Qualifying child, or • Qualifying relative. You can find more information about dependents in Pub. 501. For this purpose, the term “dependent” also includes any person you could have claimed as a dependent on your return except that: • You, or your spouse if filing jointly, could be claimed as a dependent of another taxpayer (like on your pa- rent’s tax return); • The person filed a joint return; or • The person had gross income for the year that was equal to or more than $4,400 (for 2022). Reasonable period of time. Qualified education expen- ses are treated as paid or incurred within a reasonable pe- riod of time before or after you take out the loan if they are paid with the proceeds of student loans that are part of a federal postsecondary education loan program. Even if not paid with the proceeds of that type of loan, the expenses are treated as paid or incurred within a rea- sonable period of time if both of the following require- ments are met. • The expenses relate to a specific academic period. • The loan proceeds are disbursed within a period that begins 90 days before the start of that academic pe- riod and ends 90 days after the end of that academic period. If neither of the above situations applies, the reasona- ble period of time is usually determined based on all the relevant facts and circumstances. Academic period. An academic period includes a se- mester, trimester, quarter, or other period of study (such as a summer school session) as reasonably determined by an educational institution. If an educational institution uses credit hours or clock hours and doesn't have aca- demic terms, each payment period can be treated as an academic period. Eligible student. An eligible student is a student who was enrolled at least half-time in a program leading to a degree, certificate, or other recognized educational cre- dential. Enrolled at least half-time. A student was enrolled at least half-time if the student was taking at least half the normal full-time workload for their course of study. The standard for what is half of the normal full-time workload is determined by each eligible educational insti- tution. However, the standard may not be lower than any of those established by the U.S. Department of Education under the Higher Education Act of 1965. Related person. You can't deduct interest on a loan you get from a related person. Related persons include: • Your spouse; • Your brothers and sisters; • Your half brothers and half sisters; • Your ancestors (parents, grandparents, etc.); • Your lineal descendants (children, grandchildren, etc.); and • Certain corporations, partnerships, trusts, and exempt organizations. Qualified employer plan. You can't deduct interest on a loan made under a qualified employer plan or under a contract purchased under such a plan. Qualified Education Expenses For purposes of the student loan interest deduction, these expenses are the total costs of attending an eligible edu- cational institution. They include amounts paid for the fol- lowing items. • Tuition and fees. • Room and board. • Books, supplies, and equipment. • Other necessary expenses (such as transportation). The cost of room and board qualifies only to the extent it isn't more than: • The allowance for room and board, as determined by the eligible educational institution, that was included in the cost of attendance (for federal financial aid purpo- ses) for a particular academic period and living ar- rangement of the student; or • If greater, the actual amount charged if the student is residing in housing owned or operated by the eligible educational institution. Eligible educational institution. An eligible educational institution is generally any accredited public, nonprofit, or proprietary (privately owned profit-making) college, uni- versity, vocational school, or other postsecondary educa- tional institution. Also, the institution must be eligible to participate in a student aid program administered by the U.S. Department of Education. Virtually all accredited postsecondary institutions meet this definition. An eligible educational institution also includes certain educational institutions located outside the United States that are eligible to participate in the U.S. Department of Education's Federal Student Aid (FSA) programs. For purposes of the student loan interest deduction, an eligible educational institution also includes an institution conducting an internship or residency program leading to a degree or certificate from an institution of higher educa- tion, a hospital, or a health care facility that offers post- graduate training. An educational institution must meet the above criteria only during the academic period(s) for which the student Page 32 Chapter 4 Student Loan Interest Deduction