1098-E and 1099-C Tax Information FAQ

Will AES mail me copies of my 1098-E and 1099-C tax forms?

That depends:

If... Then...

You paid $599.99 or less in student loan interest, or had $599.99 or less in student loan debt cancelled, for loans serviced by AES, in 2008...

No, AES will not mail paper copies of your 1098-E Student Loan Interest Statement or your 1099-C Cancellation of Debt notice.

But don't worry. By signing in to Account Access you can:

  • View the exact amount of interest paid and print a copy of your AES Interest Summary.
  • View the exact amount of debt cancelled and print a copy of your AES Debt Cancellation Summary.

You paid $600.00 or more in student loan interest or had $600.00 or more in student loan debt cancelled, on loans serviced by AES, in 2008...

Yes, AES will mail you a copy of your 1098-E Student Loan Interest Statement or your 1099-C Cancellation of Debt notice.

Don't forget, you can also view the amount of interest you paid or student loan debt cancelled by signing in to Account Access.

Your 2008 tax information will be available online in mid-January.

Why would I receive a 1099-C form?

You would receive a 1099-C Cancellation of Debt form indicating the amount AES reported to the IRS on your student loan if, during 2008, a payment of some type (RIR Rebate Payment, Loan Forgiveness Payment, or a Write-off) totaling $600.00 or more was made on your loan(s). Because this payment type may be considered "income," AES is required to report it to the IRS.

If you had $599.99 or less in student loan debt cancelled in 2008, AES will not mail you a 1099-C form. But don't worry, this information will be available online in mid-January of 2009.

How do I use this information on my tax return?

AES staff are not tax professionals. If you have specific questions about 1098-E or 1099-C forms or how to use this information on your tax return, please contact a professional tax advisor or the IRS at 1-800-829-1040 or www.irs.gov for assistance.

I am a co-maker on this loan. Will I also receive a 1098-E or 1099-C form?

No. Only the primary borrower on the account will receive these forms.

If I lose my 1098-E or 1099-C form, can you resend it?

Yes, we can send you a letter that contains the information that was provided on the 1098-E or 1099-C form. However this information will also be available online in January. By signing in to Account Access you can:

  • View the exact amount of interest paid or debt cancelled
  • Print a copy of your AES Interest Summary or Debt Cancellation Summary

Sign in or create an account now.

I am not the borrower, but I am making payments on this loan. Can I claim the interest that I paid on my tax return?

AES is required to report to the primary borrower and to the IRS the amount of interest that was paid in the name of the primary borrower who is responsible for repaying the loan. We cannot advise you if you can claim the interest. You should consult a professional tax advisor or the IRS at 1-800-829-1040 or www.irs.gov for assistance.

Can I claim payments made on defaulted loans?

You should receive a 1098-E form from the Guarantor to whom you are making payments. You should consult a professional tax advisor or the IRS at 1-800-829-1040 or www.irs.gov for assistance regarding what you can claim.

My loans just transferred to AES. Will the 1098-E form that you send to me include the interest for all of the payments I made this year?

No. You should receive a 1098-E form from every servicer to whom you made payments. However, some servicers may only send you a 1098-E form if you paid $600 or more in interest to them. If you have any questions on payments you made to another servicer, you should contact them.