My 1098-E form in box 1 says "Student Loan interest received by lendor" and not the "Interest Paid" that it is asking for in TurboTax. Do i type in this (big) number?

[AnthonyC]

Yes, interest received by the lender is the same as interest paid.  It sounds like you may have a loan refinance where the capitalized interest was paid by the new loan and that is why it is a large amount, which is still ok to deduct.  You should enter the 1098E as it was given to you.  Also, the maximum deduction is $2,500 and can be less depending on income.