Current Tax Year Info
Borrowers may be eligible to deduct the interest paid on their student loans when they file their income tax returns. This is called the Student Loan Interest Statement, also known as the 1098-E.
Tax ID #: 57-0602805
To view your interest paid (1098-E) for the previous year, you may log in to your on-line account and click on View your interest paid for the current tax year (1098-E) on the Borrower Menu. You must be enrolled in Paperless Documents to view your 1098E information online. If you have not created an account, click here.
All borrowers who have paid interest during the previous year will be provided a Substitute Form 1098-E. This information must be distributed by January 31st of the current year.
The amount found on your Substitute Form 1098-E may not equal the amount of interest you paid in the previous year. The required IRS calculation takes into account factors such as capitalized interest and origination fees that are not reflected on your payment history.
Please be aware that interest paid on loans that were not part of the borrower's cost of attendance at their institution may not be eligible for inclusion on the 1098-E. Examples include the PAL Residency and Relocation Loan and the PAL Law PREP (Practice Review & Exam Preparation) Loan. Please see IRS Pub. 970 or consult your tax advisor for further information.
If you have questions regarding your tax deductible interest, please contact your tax advisor.