Can I get federal tax credit for paying tuition or interest on my student loan?

You may be able to take advantage of a number of federal tax benefits, including credits, deductions and savings incentives to offset your costs for college or career training. For more information on the most common benefits - including the student loan interest deduction, download the Federal Tax Benefits at a Glance chart. This one page overview is provided by our nonprofit affiliate, Educational Credit Management Corporation (ECMC).

Also, you will find details on all the tax benefits at the Internal Revenue Service website www.irs.gov/publications/p970/index.html.

Where can I find information about my federal student loans?

All federal student loan information can be found at the National Student Loan Data System (NSLDS), which is the central database for all federal loans administered by the U.S. Department of Education. NSLDS allows you to access information on federal loan and/or grant amounts, loan status (including outstanding balances), and the current loan holder.

If you have private student loans, check the promissory note you signed to obtain your loans. This will have the contact information for your lender so you can contact them to request loan statements and other information.

Whom do I contact if I have questions about my federal student loans?

Start by contacting ECMC Solutions. We can help you determine your loan status and find ways to resolve any issues with your loan repayment. If necessary, we can help you complete the application for a deferment or forbearance; then we’ll follow up with your lender to make sure you qualify.

Who is ECMC Solutions?

ECMC Solutions is a company that works with various colleges to assist former students in repaying their federal education loans. ECMC Solutions was hired by your school to provide you with additional support and assistance with finding affordable payment options. You will find helpful information, tools and forms on this site so that you can understand your obligations and find help when you need it.

What can my lender help me with?

Your lender can help you with any questions you may have about your student loan. If you don’t know who your lender is, check the National Student Loan Data System (NSLDS), the central database for federal student loan information. The organization’s website, www.nslds.ed.gov, will provide you with contact information for your lender.

Your lender will give you detailed information about your federal student loans and decide if you qualify for specific programs or payment plans that can help you repay your loans. For example, if your payments are too high for your budget and income, your lender will work with you to try to find a more affordable payment option. So, do not hesitate to call your lender, they are there to help you.