Interest Paid Info for Borrowers Is Now Available

Once again, the time for filing our tax returns is near. That often brings questions from our borrowers wondering how much student loan interest they paid during 2012 so they can potentially deduct it when filing their taxes.

We’ve made paid interest totals easy to access for borrowers:

• Interest paid information is available in borrowers’ online accounts as of January 6.
• The Nelnet.com home page contains a message letting borrowers know that their interest information is available.

• The Nelnet.com home page message links to a web page with more details, as well as some FAQs.
• After logging into their online account, borrowers will see an alert reminding them that their interest paid information is available.
• When borrowers call Nelnet, our automated phone system will provide the interest paid totals.
• Nelnet’s December, January, and February statements remind borrowers of the timing for getting their IRS Form 1098-E information.
• The email we sent to borrowers letting them know their January electronic statement was ready also mentioned that tax information was available.

Although our call center advisors are not trained to provide tax advice or guidance, they can answer questions about the amount of interest paid on borrowers’ accounts.

If your students have any questions about how to get total amount of interest they paid on their student loans in 2012, have them call Nelnet at 888.486.4722.