The student loan refund (income) which by the way was available due to the covid pause (not to be confused with the debt relief plan that is pending) is nontaxable. If you claimed any student loan interest in previous years that is now refunded, you need to amend those years taxes from what I gather so far. I received more refund than I asked for. The refunded interest is not reportable as 2022 income as also posted from what I've seen by the experts here. My refund did not separate interest out and the payment (s) details were removed from my servicer website appearing as if the payments never happened. You would need to check and see what you claimed for interest in prior years (2020-2021) by comparing what was claimed on your taxes and would have been on your 1098-E at that time (hopefully you have a copy) and what the 1098-E form says now (mine was changed to 0 for 2021 and changed/lowered for 2020). Also, a hint is to look at top 1098-E form and see if it says corrected in box. Note the difference and we will need to amend the taxes for those years claiming less or 0 interest. I did a quick check (tax redo for 2021) and my tax liability (now additional owed) is $12.00 which may be too low to amend per answers here (not worth the effort by IRS) but not guaranteed and IRS could still do audit based on the corrected 1098-E.
Also would like to say I paid back a large amount of what was refunded and some interest. I did not plan to claim the interest for 2022 since it was claimed before (before I realized that my prior 1098-E s were changed) and still would not. Wish we knew from beginning that the money was going to be refunded anyway (if passed) but that was not said until 3-4 weeks after the debt relief was announced. Good luck, cmarchet45
