Tax Benefits for Higher Education
Each year, the Internal Revenue Service requires all eligible institutions to report certain information about qualified tuition, fees and related expenses to the IRS and to each of its students. The information reported on Form 1098-T helps students determine if they are eligible to take the Hope Credit or Lifetime Learning Credit on their federal income tax return.
To facilitate accurate reporting, the student must maintain a current address and social security number on file with the university.
For information on education-related federal tax benefits, see IRS publication 970, “Tax Benefits for Higher Education,” or contact your personal tax advisor.