Claiming Student Loan Interest on Your Tax Return The Canada sales Agency understands that repaying figuratively speaking is financially difficult in some instances. To assist offset several of that burden, the CRA supplies a deduction for qualifying student loan interest payments. Eligible Interest You are allowed by the CRA to claim the attention you’ve got compensated on several of your post-secondary figuratively speaking in your taxation statements. Nonetheless, you will find restrictions from the kinds of loans that qualify: You can not claim interest from unsecured loans or credit lines even though you utilized those monies to fund post-secondary training. Also, you might maybe not claim interest on figuratively speaking gotten from international banks.