Question

I paid off my Sallie Mae loan in full I’m 2021 yet still have Nelnet loans open . Do I get credit for that?

Forum|Forum|4 years ago
January 29, 2022
1 reply
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I only received a form 1098-E for interest yet paid off entire loan

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If you paid student loan interest on your Nelnet loans, you may be able to deduct the amount. Log on to your Nelnet loans account and look for year end forms or statement. In particular, form 1098-E.

Your lenders are required to send you Form 1098-E only if you paid at least $600 in student loan interest during the year.

Regardless of how much interest you paid, the maximum you can deduct is $2,500. If you're eligible to deduct student loan interest, your deductible amount goes on Schedule 1 as an adjustment to income.