Skip to main content

About us

We're the Consumer Financial Protection Bureau (CFPB), a U.S. government agency that makes sure banks, lenders, and other financial companies treat you fairly.

Learn how the CFPB can help you

Do private student loans affect my taxes?


There may be a tax deduction available for interest paid on qualifying private student loans. Check with your loan servicer to see if your loan meets the qualifications.

At the end of each year, your servicer will send you by mail or through its website Form 1098-E, which details how much interest you have paid on your student loan. In general, up to $2,500 in annual interest may be deductible on your tax return, subject to income limitations and other restrictions. However, you should consult the IRS website or a tax professional for details.

Was this page helpful to you?

Please do not share any personally identifiable information (PII), including, but not limited to: your name, address, phone number, email address, Social Security number, account information, or any other information of a sensitive nature.

The content on this page provides general consumer information. It is not legal advice or regulatory guidance. The CFPB updates this information periodically. This information may include links or references to third-party resources or content. We do not endorse the third-party or guarantee the accuracy of this third-party information. There may be other resources that also serve your needs.