Interest Paid on a Student Loan

You can claim an amount if you (or a person related to you) paid interest after 1997 on a student loan that was granted to you under one of the following:

• the Act respecting financial assistance for education expenses 
• the Canada Student Loans Act 
• the Canada Student Financial Assistance Act
• a law of a province other than Québec governing the granting of financial assistance to post-secondary students

To claim or carry foward an amount, complete Schedule M and enclose it with your return. You are the only person who can claim an amount for the interest paid on the student loan granted to you. Also enclose proof of the interest payments for 2011, and proof of the interest payments for 1998 through 2010 if you have not already submitted it.

If you are not claiming an amount for 2011, it is to your advantage to complete Schedule M to determine the cumulative amount of interest that you can carry forward. Enclose Schedule M with your return.