Student Loan Tax Information

Are SoFi Loans considered “student loans” for tax purposes?

SoFi loans are considered student loans for federal and state tax consideration. Note that you may or may not be eligible for interest deduction depending on your individual tax situation. You should consult your tax advisor for more information.

Please note, your education loan interest paid to any prior servicer may be provided by that servicer.

What tax documents will be prepared for my Student Loan account?

You may receive a 1098-E for your Student Loan account. A 1098-E tax form is used to report Student Loan interest paid by you in a single year. Depending on the amount of interest paid, you may receive a 1098-E from SoFi.

Access your tax documents by logging into www.SoFi.com, navigate to your loans/ account detail page, click on Documents & Statements followed by “tax” documents.

Note: Not all Members will need tax documents for their SoFi account.

Here are the following documents you should expect and when they will be available:

Do you tax the student loan after refinancing it?

Student Loan Refinances are not taxed after they are funded with SoFi. If you qualify for a 1098-E, you may be eligible to claim the interest paid on your Student Loan Refinance on your taxes.

Please contact your own tax advisor regarding your specific situation.

Have more questions? Chat with us or call 855-456-7634 to speak with an agent.