Student Loan Repayment

Student Loan Repayment

Student Loan Interest Deduction

Following the enactment of the Tax Reform Act of 1997, student loan borrowers are now able to deduct interest paid on student loans during the first five years of their repayment. Borrowers who qualify for this deduction will receive an IRS Form 1098-E from ACS. The form indicates the amount of interest that has been paid for the tax year.  The data on the form is also reported to the IRS. If you have any questions about the 1098-E, or if you did not receive one, please contact Robin Saindon, Student Loan Specialist, or call ACS at (800) 826-4470.