Reporting Student Loan Interest Payments From IRS Form 1098-E on Your 2015 Taxes

Reporting Student Loan Interest Payments From IRS Form 1098-E on Your 2016 Taxes

If you made federal student loan payments in 2016, you may be eligible to deduct a portion of the interest paid on your 2016 federal tax return. Student loan interest payments are reported both to the Internal Revenue Service (IRS) and to you on IRS Form 1098-E, Student Loan Interest Statement.

Under what circumstances do federal loan servicers report interest payments on IRS Form 1098-E?
How many 2016 1098-E's should I expect to receive?
What help is available if I have questions?
 


Under what circumstances do federal loan servicers report interest payments on IRS Form 1098-E?

The IRS requires federal loan servicers to report payments on IRS Form 1098-E by Jan. 31, 2017 if the interest received from the borrower in the tax year was $600 or more.

If you paid less than $600 in interest to a federal loan servicer during the tax year and do not receive a 1098-E, you may contact your servicer for the exact amount of interest paid during the year.
 


How many 2016 1098-E's should I expect to receive?

That depends on how much you paid in interest, how many servicers you had, and some other factors. Read through the scenarios below; one of them will probably apply to you.

  1. Your current servicer was your only servicer in 2016: In this case, your current federal loan servicer will provide you with a copy of your 1098-E if you paid interest of $600 or more in 2016. Your servicer may send your 1098-E via U.S. mail or electronically.
  2. You had multiple servicers in 2016: In this case, each of your federal loan servicers will provide you with a copy of your 1098-E if you paid interest of $600 or more to that individual servicer in 2016. If the interest paid to each servicer is less than $600, but the combined total for all servicers is $600 or more, then you can request a 1098-E from each servicer. Each servicer may send your 1098-E via U.S. mail or electronically.

Note: If you previously had loans serviced by VSAC Federal Loans in 2016, you will receive a 1098-E from Nelnet.
 


What help is available if I have questions?

If you have questions about 2016 1098-E’s, you can find information about them on your federal loan servicer’s website. You can also call your loan servicer for assistance. If you’re not sure who your loan servicer is, you can log in to “My Federal Student Aid” to get your servicer’s contact information, or call the Federal Student Aid Information Center at 1-800-4-FED-AID (1-800-433-3243; TTY 1-800-730-8913). To see a list of servicers for federally held loans made through the William D. Ford Federal Direct Loan (Direct Loan) Program and the Federal Family Education Loan (FFEL) Program, go to our Loan Servicers page.

For more information about student loan interest deduction, visit the IRS’s Tax Benefits for Education: Information Center.