Reporting 2015 Student Loan Interest

Reporting 2015 Student Loan Interest

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1-19-2016 FROM IFAP—As tax time approaches, we want to share general information with the financial aid community about our reporting of student loan interest payments. If a borrower made federal student loan payments in 2015, the borrower may be eligible to deduct a portion of the interest paid on the borrower’s 2015 federal tax return. Student loan interest payments are reported to both the Internal Revenue Service (IRS) and the borrower on IRS Form 1098-E, Student Loan Interest Statement…
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