Form 1098-E: Student Loan Interest Statement

This form provides the amount of interest paid on eligible student loan(s) during the calendar year. This statement is only available for the borrower. Cosigners do not receive a Form 1098-E.

  • Borrowers may be able to deduct eligible interest on their income tax return, which can reduce their taxable income.
  • Form 1098-E will include all eligible interest payments received by December 31. Please note that the amount of student loan interest paid may be different from the amount of accrued interest that appears on monthly billing statements.

Form 1099-INT: Annual Income Interest Tax Statement

This form shows the amount of interest income earned on a Upromise® account during the calendar year. It’s provided to borrowers who have met the requirements for borrower benefit programs, and have earned more benefit dollars than they paid in eligible student loan interest during the calendar year.

This statement is only available for the borrower. Cosigners do not receive a Form 1099-INT.

Borrowers will never receive both a Form 1098-E and a Form 1099-INT. If they have any Upromise earned benefit, it will be deducted from their Form 1098-E if they’re eligible for one. If they’re not eligible for a Form 1098-E, they’ll receive a Form 1099-INT.


Tax Information for Cosigners

Customers who have cosigned an eligible Sallie Mae student loan(s) will receive notification from us providing the total amount of interest paid during the calendar year. This notification is for informational purposes only. The borrower on the loan(s) will receive the applicable tax form. We encourage cosigners to contact their borrowers to obtain tax forms, if needed.


Update your email permissions

To receive an email when your tax form is available, make sure your Tax Statements permission is set to electronic delivery by December 31.

How to update your email permissions

  1. Create or log in to your account.
  2. Go to My Profile (by clicking your name in the upper right-hand corner).
  3. Click the "Edit Contact Info" button.
  4. Place your cursor over the "Email Address" field and click on your email address.
  5. Under the second question regarding Tax Statements, choose "Yes."
  6. Click "Save" to submit your changes.

How to get your forms

  • Online: We’ll email you in late January when your form is available.
  • By mail: Forms are mailed by January 31.

Download your forms

Get your forms when you receive an email that they are available.

  1. Log in to your account.
  2. Select the Documents and Tax Forms link from the Loans tab.
  3. Go to the Outbound Correspondence tab.
  4. Select the correspondence labeled Important Tax Document and download/print the form for your records.

Questions?

Call us at 855-429-9755. We can’t give tax advice, but here are some sources for more information on taxes.

  • Visit IRS.gov or call 800-829-1040.
  • Refer to IRS Pub 970, “Tax Benefits for Education,” or review the Student Loan Interest Deduction Worksheet in your 1040 or 1040A instructions.
  • Contact your tax advisor.