The Catholic University of America

Summary of Federal Laws

Tax

Tax Issues Related to Students

Student Loan Interest Reporting

Under I.R.C. § 6050S, enacted by the Taxpayer Relief Act of 1997, lenders, including most colleges and universities that operate institutional loan programs, must report student loan interest payments to the IRS.  Lenders will have to complete Form 1098-E, "Student Loan Interest Payments," for all of their borrowers who repay interest aggregating $600 or more during the year on one or more student loans.

See Tuition Payment Credit Reporting Requirements for rules on obtaining the TIN, and what constitutes acting in a responsible manner by the payee for purposes of compliance.

 

 

updated 12-17-18

 

Note: Perkins loan Program phased out