Have you taken out a student loan and are wondering if it’s tax-deductible? Here’s what you need to know about what you can claim and how to enter it correctly in the Taxfix app.
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Loan repayments (principal) are not tax-deductible.
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Interest payments can be deducted:
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As special expenses for a first degree
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As work-related expenses for a postgraduate or second degree
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Enter them in either the "Education & Studies" or "Job" category, depending on your case.
🚀 Your Guide
Are Repayments Deductible?
Repayments of the student loan cannot be claimed in your tax return. These are treated as repayments of borrowed capital and are not tax-deductible.
When and How to Claim Interest
You can claim the interest payments you made on your education loan:
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As special expenses if the loan was for your first degree (e.g. Bachelor's)
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As work-related expenses if the loan was for a postgraduate or second degree (e.g. Master's)
How to Enter Interest Payments in the App
First Degree (e.g. Bachelor)
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In the "About You" category, indicate that you studied (even if not in the tax year).
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Go to the "Education & Studies" category and enter the interest paid as part of your study costs.
The interest will be counted as special expenses.
Postgraduate Degree (e.g. Master)
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In the "About You" category, select that you are employed.
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The "Job" category will then appear. There, under work-related expenses, choose the option "Interest on student loan".
These will be treated as work-related expenses.
General Loans in the Taxfix App
⚠️ Important Note:
General loans such as consumer loans, mortgages, or personal loans are not eligible in the Taxfix app. Only student loans that meet the above criteria are tax-deductible.
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Still have questions?
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