WASHINGTON – Credit unions and other lenders are now required to report loan origination fees and capitalized interest for qualified education loans made on or after Sept. 1, 2004. According to Internal Revenue Code 6050S, a credit union must provide a member-borrower with IRS Form 1098-E (Student Loan Interest Statement) if it has received $600 or more in student loan interest over the course of the year from the member.
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