Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jul 14, 2020 6:13:05 PM

Is there interest paid on student loans if paying through garnishment?

How do I know how much interest is paid if only paid through garnishment?

0 2 560
2 Replies
Level 15
Aug 19, 2020 10:52:51 AM

Your lender will have to tell you that. 

Level 15
Aug 19, 2020 8:20:15 PM

Generally speaking, if you don't receive a 1098-E, then you have nothing to deduct. It's common by the time it gets to something such as garnishment, things are so far in default that the lender just wants their money back. It's also true (in most cases) that when the defaulted loan is sold (generally to a collection agency) then it's no longer a "qualified" student loan; when means the interest just flat out is not deductible.