Medical study loan helps in saving income tax?

masterboy123

Can anyone say how this educational (for medical studies) loan helps in saving my income tax in Ireland? I have heard that if I have taken loan I have to pay less income tax. Can someone please explain me how it can be done?

I have studied medicine in other EU country and took educational loan from my home country to pay the tuition fees and I am supposed to start repaying that loan from this coming summer.
I am not sure if I am eligible for any relief from income tax.

Soon I am going to start my first job with HSE as a doctor.

Any help is highly appreciated!!

Vorsprung

masterboy123 wrote: »

Can anyone say how this educational (for medical studies) loan helps in saving my income tax in Ireland? I have heard that if I have taken loan I have to pay less income tax. Can someone please explain me how it can be done?

I have studied medicine in other EU country and took educational loan from my home country to pay the tuition fees and I am supposed to start repaying that loan from this coming summer.
I am not sure if I am eligible for any relief from income tax.

Soon I am going to start my first job with HSE as a doctor.

Any help is highly appreciated!!

I'm almost certain that you can only get tax relief on a course that's listed on a particular Revenue document which only lists colleges in Ireland courses abroad aren't listed.

Link here

I can't imagine that you'd be entitled to tax relief on what is effectively a personal loan.

lonestargirl

Tax relief would be due at the time the fees were paid to the college not when paying back the loan.