Don’t Forget Your 1098-E Tax Form When Filing Your Taxes

UPDATE: For the most up-to-date information on getting your 1098-E, visit www.ed.gov/1098-E.

If you made payments on your federal student loans during 2011, you may be eligible to deduct a portion of the interest you paid on your federal tax return.  Student loan interest payments are reported on Internal Revenue Service (IRS) Form 1098-E, Student Loan Interest Statement (commonly called the 1098-E).

Your student loan servicer (the entity you make payments to) will provide you a copy of your 1098-E.  Your servicer may send you your 1098-E via U.S. Postal Service or electronically.  Check with your servicer if you haven’t yet received your 1098-E for 2011.  If you had multiple loan servicers in 2011, you will receive a separate 1098-E from each servicer.

If you’re not sure who your loan servicer is, you can look it up on www.nslds.ed.gov 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 Federal Student Aid servicers for the Direct Loan Program and for FFEL Program Loans purchased by the U.S. Department of Education, go to our Loan Servicer page.

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

#AskFAFSA Office Hours with ED’s Martha Kanter

With many schools’ FAFSA deadlines quickly approaching, FAFSA season is heating up. Last night, Under Secretary of Education Martha Kanter took to Twitter to answer some pressing questions students & parents had about the Free Application for Federal Student Aid.

Using the hashtag #AskFAFSA, Martha answered more than 20 questions over the course of the hour. She addressed:

Who Gets Aid

Tax Questions

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