IRS Tax Transcript
Student Loan Information www.studentloans.gov
Apply for a Pin http://www.pin.ed.gov
Loan Entrance and Exit Interviews -https://studentloans.gov/myDirectLoan/index.action
Department of Education http://www.ed.gov/index.jhtml
National Student Loan Data System (NSLDS) http://www.nslds.ed.gov
National Student Loan Direct Servicing (NSLDS) – Consolidate Student loans www.nsldservicing.com
National Student Loan Data System
The National Student Loan Data System (NSLDS) is the U.S. Department of Education's central database for student financial aid. http://www.nslds.ed.gov/nslds_SA/
The tax code provides a variety of tax incentives for families who are saving for, or already paying, higher education costs or are repaying student loans. An overview of tax incentives are outlined below. Colleges cannot legally give tax advice. Therefore, families are encouraged to follow IRS tax reporting instructions, or contact a qualified tax advisor.
Students may be able to claim a Hope and Lifetime Learning Credit for the qualified tuition and related expenses of students who are enrolled in eligible educational institutions. Different rules apply to each credit. If students claim a Hope Scholarship Credit, none of that student's expenses for that year may be applied toward the Lifetime Learning Credit.
Students may be able to claim a tuition deduction of up to $4,000 of qualified education expenses paid during the year. Students cannot claim this deduction if their filing status is married filing separately or if another person can claim an exemption for the student as a dependent on his or her tax return. The qualified expenses must be for higher education.
Students may be able to deduct interest they pay on a qualified student loan. And, if a student loan is canceled, they may not have to include any amount in income. The deduction is claimed as an adjustment to income so the student does not need to itemize the deductions on Schedule A Form 1040.
For more information contact the Internal Revenue Service general information number (800) 829-4477, Topic 600, or visit www.irs.gov.