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Why does Nelnet provide information regarding student loan interest paid in the prior year?

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Why does Nelnet provide information regarding student loan interest paid in the prior year?

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A person, financial institution, government unit or educational institution that receives interest payments of $600 or more during the year on one or more qualified education loans must furnish this information to you. This information is also reported to the IRS. Nelnet chooses to provide this information to you even if it is less than $600.

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