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Student Loan Interest Deduction

There is a special STUDENT LOAN INTEREST DEDUCTION available to individuals paying interest on student loans used for higher education. This deduction can reduce the amount of your income subject to tax by up to $2,500.
  • Generally, educational and financial institutions and governmental units receiving student loan interest payments of $600 or more during a calendar year are required to issue a form 1098-E, Student Loan Interest Statement, by February 1 of the following year.

Baylor contracts with a third party, University Accounting Service, to service its Federal Perkins, Federal Nursing, and Baylor Institutional Loans, and to prepare 1098-E forms related to these loans.

  • 1098-E forms related to your other loans will not come from Baylor, but from the institution or governmental unit receiving your payments which include student loan interest.

  • If we have a current email address on file, you will receive an annual email notification with information about how to access your 1098-E online. For online access to your 1098-E from Baylor University, click here. Paper copies will be mailed each year by February 1.

For complete information on the STUDENT LOAN INTEREST DEDUCTION, see Chapter 4 of Pub. 970 Tax Benefits for Education.


The above information is not provided as legal or tax advice. Individuals should consult with a qualified tax professional, and/or contact the IRS Taxpayer Assistance line at 1-800-829-1040 with regards to any credit or deduction claimed on a personal tax return.