What are some differences between consumer loans for bootcamps and private student loans for college?
- For private student loans, interest paid may be tax deductible. For consumer loans for bootcamps, interest is not tax deductible. Please consult your tax advisor to determine if this applies to you.
- Consumer loans for bootcamps may be treated differently in the event of a borrower bankruptcy.
- Private student loans may typically only be used for qualified education expenses as defined by the IRS.