What do I do if I can’t pay my student loans?
Many people struggle with making regular student loan payments and may not be aware that there are options available. Find helpful tips on getting help paying when you need it.
Discover will no longer accept new student loan applications after January 31, 2024. Applications received on or before January 31, 2024 will be processed as usual.
The information below can help outline what you should expect to receive and how that information can be used to prepare your tax return. Please note, you may receive multiple tax documents if you have other accounts with Discover (i.e., online banking, credit cards, home loans, and personal loans). Note: We are unable to provide tax advice. Please see IRS Publication 970 at IRS.gov or ask a tax professional if you need assistance.
What Discover Student Loans tax information should I expect to receive?
Document/tax form type |
When it is sent |
Who receives |
Available in Account Center* |
| Interest Paid Letter | By January 31 | Primary Borrower | Yes |
| Cosigner Interest Paid Letter | Upon Request | Cosigner | Yes |
| IRS Form 1098-E | By January 31 | Primary Borrower | Yes |
| IRS Form 1099-MISC | By January 31 | Customer who received non-interest income | No |
| IRS Form 1099-INT | By January 31 | Customer who received interest income | No |
| *The primary Borrower and Cosigner will have to sign into their individual Account Centers to receive the applicable documents. | |||
All IRS Tax forms are delivered by US postal service.
The Interest paid letter and Cosigner Interest paid letter are sent based on Customer Preference (US Postal Service or Electronic Delivery in Account Center).
If you don't receive anything by February 10 or need an additional copy of any tax form, you may call us at 1-800-STUDENT.
Can I receive my documents via email?
No, email is not secure to deliver documents with sensitive information. To protect your information, we do not email these documents.
Student Loan Interest (IRS Form 1098-E and Interest Paid Letter)
Who receives the IRS Form 1098-E and Interest Paid Letter?
US law requires IRS Form 1098-E be issued with respect to the primary borrower on the student loan. The Interest Paid Letter is also sent to the primary borrower on the student loan. See below for specific differences between IRS Form 1098-E and the Interest Paid Letter.
If you are a cosigner for any loan serviced by Discover Student Loans, you may request a letter reflecting the interest paid for the current tax year. For the interest paid amount for tax years prior to 2021, we can send you a transaction history associated with the loan(s) for which you are a cosigner.
What is the difference between the IRS Form 1098-E and the Interest Paid Letter?
Document |
Who Receives |
Description |
| IRS Form 1098-E | Primary borrower | A form reflecting the amount of interest paid during the year on certified eligible loans. |
| Interest Paid Letter | Primary borrower | A letter reflecting the amount of interest paid during the year on eligible student loans regardless of certification. |
| Cosigner Interest Paid Letter | Cosigner (upon request) |
A letter reflecting the interest paid during the year for the loans they have cosigned. |
What loans are included on IRS Form 1098-E and the Interest Paid Letter?
Loan Type |
Document Received |
| Private student loan serviced by Discover and certified by December 31 | For certified eligible loans where the loan proceeds were used solely to pay for qualified higher education expenses, we will send you a Form 1098-E and an Interest Paid Letter by January 31 stating the amount of interest you paid for the prior tax year. |
| Private student loan serviced by Discover and not certified by the borrower by December 31 | We will send you an Interest Paid Letter by January 31 stating the amount of interest you paid for the prior tax year. |
| Bar Exam Loan | Interest paid on Bar Exam Loans is not included on IRS Form 1098-E or the Interest Paid Letter.
We will provide you a transaction history upon your request. |
| Residency Loan | Interest paid on Residency Loans is not included on IRS Form 1098-E or the Interest Paid Letter.
Interest paid on loans for some residency programs may be eligible for a tax deduction based on the program offered by the school. Please check with your school for eligibility.
If you determine that your Residency Loan does qualify, we can send you a history of transactions associated with the loan(s) for a given tax year to help you establish the amount of interest paid. |
| Parent loan | For certified eligible loans where the loan proceeds were used solely to pay for qualified higher education expenses for a dependent or spouse, we will send you the Form 1098-E and the Interest Paid Letter by January 31 stating the amount of interest you paid for the prior tax year.
For borrowers of Parent Loans not used solely to pay for qualified higher education expenses for a dependent or a spouse, we will provide you a transaction history upon your request. |
Note: We are unable to provide tax advice. Please see IRS Publication 970 at IRS.gov or ask a tax professional if you need assistance.
Why do I need to complete IRS Form W-9S to obtain IRS Form 1098-E?
To receive IRS Form 1098-E, the primary borrower must certify that the loan proceeds were used solely to pay for qualified higher education expenses at an eligible educational institution. A completed Form W-9S acts as your certification. If your loan was not used solely to pay qualified higher education expenses, you should not certify the loan.
Primary borrowers may log into their Account Center to review whether their loans are certified. Once you are logged in:
- Select Loans from the top menu
- Choose View Tax Information.
- Scroll to the middle of the page and click the link: Online W-9S Certification Form
Other tax forms
Please note, you may receive multiple tax documents if you have other accounts with Discover.
Why does Discover Student Loans send IRS Form 1099-MISC?
IRS Form 1099-MISC is the IRS form used to report certain payments income from a lender to a customer. The IRS requires the following payments be treated as reportable on Form 1099-MISC.
Type of credit or payment |
Description |
| Courtesy Credit | Courtesy credits are issued to compensate a customer for activities that may have affected the account or customer experience. They are offered in different forms such as a credit to the account, or reimbursement check. |
| Compensation Credits or Payments | We may issue compensation credits or payments that are more than the amount required to correct an error to make amends for a mistake. |
| High School Reward for Good Grades | A cash reward is considered other income for IRS Form 1099-MISC reporting. |
| Refer-a-Friend | A cash reward is considered other income for IRS Form 1099-MISC reporting. |
| Graduation Reward and Reward for Good Grades | If you received one of these rewards and paid off your loan early, you may receive the IRS Form 1099-MISC for a portion of the reward. |
Why does Discover Student Loans send IRS Form 1099-INT?
IRS Form 1099-INT is the IRS Form used to report interest income from a lender to a customer. Customers who have received amounts which are considered paid interest may receive IRS Form 1099-INT.
More questions?
You can find additional Frequently Asked Questions within the Account Center.
We are unable to provide tax advice, so please see IRS.gov or ask a tax professional if you have questions.
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