Student Loan Interest

Forum|Forum|5 years ago
April 3, 2021
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I recently graduated from Pharmacy and have been paying my student loan and interest over the past year ($600/month in interest alone). When it came time to file my taxes I was told by the student loan company that "Since the school you attended was not eligible for Title IV student aid programs at the time of application, it does not meet the eligibility criteria for the 1098E form."

Would it be improper to calculate the interest paid on my own and log that?

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MAK70

No, unfortunately, if the school was not a qualified educational institution, you cannot deduct the student loan interest.

Eligible educational institution.

An eligible educational institution is generally any accredited public, nonprofit, or proprietary (privately owned profit-making) college, university, vocational school, or other postsecondary educational institution. Also, the institution must be eligible to participate in a student aid program administered by the U.S. Department of Education. Virtually all accredited postsecondary institutions meet this definition. (Eligible educational institution.)