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1098E Parent Loan Interest

By Terry Savage on February 08, 2023 | College Savings / Student Loans

Why would we be getting 1098E Form for US Government on Student Loans when I thought they have been in remission since 2020. We have been paying since 2020, and was wondering why for the last 3 years we have gotten a 1098E forms saying we paid interest. Unfortunately I just realize it this year. Just a little confused. Was hoping you could help me. I tried calling and kept getting disconnected. I guess they are now Mohela. Thanking you in advance.

Terry Says

According to student loan expert Rae Kaplan (https://www.financialrelief.com/ here’s your answer:

The 1098-E tax form reports the amount of interest you paid on student loans in a calendar year. Loan servicers send a 1098-E to anyone who pays at least $600 in student loan interest.

If you have outstanding loans with more than one servicer, you’ll receive a 1098-E from each servicer to which you paid at least $600 in student loan interest. If you didn’t pay any servicer at least $600 interest in a calendar year, you won’t receive any 1098-E forms.

Due to the COVID-19 student loan payment pause, most borrowers either didn’t make student loan payments in calendar year 2022 or paid less than what they would normally pay. Therefore, many borrowers didn’t pay any interest or paid less than $600 in interest and won’t get a 1098-E for 2022.

You can download your 1098-E from your servicer’s website.

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