What is a 1098E Tax Form?

A 1098E statement is an informational form that is sent to you by your lending school to assist you in completing the Student Loan Interest Deduction Worksheet found in your 1040 Federal Tax Form.

Student Loan Interest paid during the tax years is filed as an adjustment to your gross income which affects your adjusted gross income.

You must complete the Federal Student Loan Interest Deduction Worksheet to determine how much of the interest you paid will be deductable.

Institutions are only required to provide a 1098E Student Loan Interest Statement to borrowers who paid $600.00 or more in student loan interest during a tax year.  However, when figuring out your deduction, you may include any interst paid in your worksheet regardless of whether you received a 1098E  statement or not.

You may at any time during the tax filing period request a 1098E Student Loan Interest Statement for your records.