A Form 1098-E Student Loan Interest Statement shows the amount of interest you paid on your eligible student loans during the previous tax year. You may be able to deduct interest paid on your federal tax return, which could reduce your taxable income.
Am I eligible?
- Borrowers who have paid $600 or more in eligible student loan interest during the tax year are automatically issued a Form 1098-E.
- Even if you haven’t met the $600 threshold, you can always access your Form 1098-E at SallieMae.com on or after January 10, 2014.
- Form 1098-E statements must be issued by Sallie Mae and Sallie Mae-Department of Education Loan Services to eligible borrowers by January 31, 2014.
What’s the quickest way to get my Form 1098-E?
You can receive your form:
By email: If you’ve chosen to receive tax statements via email and paid $600 or more in eligible student loan interest, we’ll send you an email to let you know it’s available.
By mail: If you’ve chosen to receive tax statements via USPS and paid $600 or more in eligible student loan interest, we’ll send you a letter postmarked by January 31, 2014.
At any time online at SallieMae.com you can access your tax statement.
- Log in to your account at SallieMae.com on or after January 10, 2014.
- Under the Customer Support tab, go to Federal Loans, Private Loans and/or Department of Education Loans and select Print Statements and Documents.
- Find 1098-E Tax Information and print.
Important Note: You will need to download a separate Form 1098-E for each Sallie Mae servicer you have; one to accommodate all of your Sallie Mae federal and private student loans, and another for any Sallie Mae-Department of Education Loan Services loans, if applicable.
What’s important on my Form 1098-E?
Box 1: The amount of student loan interest you paid in 2013. You’ll need to provide this amount in the student loan interest deduction portion of your tax return. (If you have more than one Form 1098-E, add the amounts together for your total deduction.)
Box 2: The RECIPIENT’S federal tax identification number may be needed on your tax return. (If you have loans serviced both by Sallie Mae AND Sallie Mae-Department of Education Loan Services, you may receive two separate forms because we have two separate federal tax identification numbers.)
What are the important dates for my Form 1098-E?
Keep these deadlines in mind so you don't miss out on your possible tax benefit.
Don't wait for the mail!
Access your tax statement faster by going paperless by January 6, 2014. We’ll notify you when it’s ready!
- Log in to your account at SallieMae.com before January 6, 2014.
- Under the My Account link, go to Edit Email Address and Permissions.
- Select YES to receive your Tax Statements via email. This is also a good time to change all of your Sallie Mae communication preferences to email to get them faster!
What if I have loans from both Sallie Mae and Sallie Mae-Department of Education Loan Services?
If you have both types of student loans, and you’ve paid $600 or more in interest on both, you’ll receive two separate Form 1098-Es; there are two different federal tax identification numbers.
Where can I find more information?
We cannot offer tax advice to you. Please see either IRS Pub. 970, Tax Benefits for Education, or the Student Loan Interest Deduction Worksheet in your 1040 or 1040A instructions.
You can also call the IRS toll free at 800-829-1040, visit www.irs.gov, or consult your tax advisor.