I paid my student loan interest now what?

[Anonymous]

Okay so I've been told if I pay my student loan interest I get a tax deduction of up to $2,500.

I paid about $800 in interest charges off today. So I'm just wondering how to I claim this deduction?

Does the loan servicer (Fedloan) send me a certificate or something to claim the interest deduction?

My loans are currently in forbearance until next year but I had some money saved to pay this and hopefully not allow this interest to Capitalize, I know it's not a lot but it's better than nothing.

[Anonymous]

You should get a statement (can't remember the form name) in/around January showing how much you paid in interest.  You will need this in order to get the deduction.

[Anonymous]

Okay thank you!

[scvbd99]

Fedloan will send you a 1098-E as long as you paid more than $600 in interest. 

You don't have to wait for them to mail it. It usually shows up under "Tax Information" when you login. For me, it usually shows up a couple weeks into January. 

the best thing about it is that it's an above the line income adjustment, and also that you can use it even if you don't itemize.