<prompt> Human: Curently have a school loan with a 6.5 interest rate. My father can pay off that loan and then he will charge me at 4. Can I still claim this on my taxes as a school loan? Or would I be screwing myself over? It is not a small dollar amount either over 100k  <response>: That wouldnt be considered a student loan at that point. It would be a personal debt. You would pay less even if you cant deduct interest. 