🎓 March 31, 2025 – IRS Electronic Filing Deadline for Educational Institutions and Loan Servicers
This deadline applies only to entities that file these forms electronically.
If filed on paper, the due date was February 28, 2025.
These forms help taxpayers claim education-related tax benefits, such as the American Opportunity Credit, Lifetime Learning Credit, or the student loan interest deduction.
🧾 Form 1098-E – Student Loan Interest Statement
🔍 What is it?
Form 1098-E reports the amount of interest paid on qualified student loans during the tax year.
💼 Who files it?
Typically, student loan servicers or lenders, such as banks, federal loan providers, or educational institutions that issue loans.
Must file if a borrower paid $600 or more in qualified student loan interest during the year.
📥 What information does it include?
Borrower’s name and Social Security Number
Loan interest paid in the tax year
Lender/servicer’s contact details and TIN
💡 Why it matters:
Taxpayers may be able to deduct up to $2,500 in student loan interest on their federal tax return, depending on income and filing status.
📤 Filing obligations:
Copy to borrower: Due by January 31, 2025
Filing with IRS:
Paper: February 28, 2025
Electronic: March 31, 2025
🧾 Form 1098-T – Tuition Statement
🔍 What is it?
Form 1098-T is used by eligible educational institutions to report tuition payments and related expenses made on behalf of students during the calendar year.
🏫 Who files it?
Colleges, universities, and other postsecondary institutions that are eligible to participate in federal student aid programs.
Required to file for students enrolled for any academic period during the tax year.
📥 What information does it include?
Student’s name and SSN
Amounts billed or paid for qualified tuition and related expenses
Scholarships or grants received
Whether the student was at least half-time or in a graduate program
💡 Why it matters:
Students or their parents may use this form to claim:
The American Opportunity Credit (up to $2,500/year for undergraduates)
The Lifetime Learning Credit (up to $2,000/year for postsecondary education)
📤 Filing obligations:
Copy to student: Due by January 31, 2025
Filing with IRS:
Paper: February 28, 2025
Electronic: March 31, 2025