CRA deductions for paying US based Private Student Loan?

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jr_23
Posts: 1
Joined: Tue Mar 01, 2011 12:04 am

CRA deductions for paying US based Private Student Loan?

Post by jr_23 »

Hello;

New here, I recently moved to Canada from the US, have a US based private student loan which is now in repayment. I am Canadian, not American, however did not apply for any Canadian loans.

Question -

Can I apply for some special deduction on the loans I am paying to the US?

Can I consolidate the US loans here in Canada, either Federal or private loans?

Any advice on how to manage these loans in the most cost effective way is greatly appreciated.

ps - I can make the loan payments (after a lot of belt tightening) but like to get some deduction or tax benefit at the minimum.

Thanks in advance.
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