What is form 1098-E?
Form 1098-E is also known as a student loan interest statement. It is an official form provided by the Internal Revenue Service (IRS). It is used by your university or federal loan servicer to report the interest paid on your student loans. If the amount of interest you’ve paid meets or exceeds a total of $600, the IRS may lower theamount of tax reduced from your income.
I think I need to submit a student loan interest statement. How do I access form 1098-E?
If your interest payments meet or exceed the $600 benchmark, your federal loan servicer is required to send you this form. You may receive your form electronically or in the mail. Please note that some universities and federal loan servicers distribute this form to all students — if you received a 1098-E from your servicer, it doesn’t necessarily mean you will qualify for a tax deduction.
Can I still submit a 1098-E if I paid less than $600 in interest on my student loans?
You can still choose to submit a 1098-E. However, it is not required and you’re much less likely to benefit from a tax deduction. Additionally, you may have to contact your servicer directly to find out the exact amount of interest you paid throughout the given tax year.
What if I receive multiple copies of this form?
Based on certain factors, such as how much interest you paid or how many federal loans you have, you may be required to submit more than one 1098-E.If you have received more than one form and are not sure why, we recommend contacting your loan servicer directly to find out more.
What if I lose or don’t receive my 1098-E?
The IRS has a digital copy of form 1098-E readily available online.
Achieving an affordable education at Goodwin
At Goodwin University, we’re committed to making higher education affordable and accessible for our students. Financial aid is awarded through scholarships and grants, paying work-study opportunities, and repayable student loans.
Learn more about how Financial Aid Services can support your Goodwin journey or call 800-889-3282.
We’re Ready When You Are.
- Enrollment is hassle-free, and it’s easy to get started.
- Financial aid is available, and we’re still accepting applications.
- You will find comprehensive support services that will get you through college and into a great career.
- We are veteran-friendly, and we understand and respect the needs of veteran students.
- If you want to transfer in credits, we can typically review your transcripts of prior learning in less than one business day.
Contact Us Today!
Goodwin University will never sell your personal information to a third party. By submitting your contact information, you give permission to Goodwin University to contact you by phone, email, mail, and text message.