Warning if you paid off Department of Ed Loan via Navient in 2014 – Maybe It’s Just Me?
We’re starting the process of gathering up our tax documents for 2014. Both Austin and I paid off the vast majority of our student loans in 2014 (I still have a tiny one from NYU); it was an exciting fall. We both also just got our “your tax docs are ready” email from Navient this week, so we signed into our accounts to check one item off the list.
Austin’s was fine and as expected. Mine, however, was surprisingly low. Given the giant interest rate on my LSE loan (why hello, 8.25%, how are you), you can imagine my surprise when my Navient 1098-E showed I’d paid less than a Seahawks ticket’s worth of interest in 2014.
I clicked on every link on Navient’s website, trying to find the paid off loan graveyard, or a link to Department of Education Loans (my LSE one was a DoE loan; my NYU one is not). I even tried going back to Sallie Mae but they wouldn’t even let me sign in. Yikes.
Luckily, I still had my “Congratulations!” email from November, announcing the loan was paid off. From a link in there I was able to access my DoE loans documents page, which had a link for a 1098-E form. Which showed nearly a month’s rent worth of interest paid.
Now, we probably aren’t going to be able to deduct any of this. However, if I hadn’t remembered that my loans were two different types, and if I hadn’t gone in search of that email, I have no idea how I could have found this pretty important tax document. And because people sometimes do searches (I know a couple people have found my blog searching for Navient issues), I thought I’d share what worked for me.
Ugh. So needlessly complicated.