Students and families may be eligible to claim a tax credit or tuition and fees deduction on their federal income tax return for qualified tuition and related expenses paid during a calendar year. The American opportunity credit, the lifetime learning credit, or Higher Education Tuition and Fees Deduction are tax benefit options designed to help students or their parents finance their post secondary education.
The tax laws authorizing these tax benefits require colleges and universities to report information on enrolled students to the Internal Revenue Service. The information is reported on a 1098-T form, a copy of which is mailed to the home billing address for all students in January.
An electronic copy of the 1098-T form is also available on the students SLU Portal. Please note that it is necessary to install VPN on your computer if accessing your 1098-T online from home and you may need to disable pop up blockers depending on your browser. Information on how to do this is available at the IT website.
Please note that the amounts reported on a student's 1098-T form represent the amount billed for qualified tuition and related expenses, and the amount of grants and scholarships awarded to the student that were administered by the University during calender year 2015. If families and students need information regarding cash payment amounts made during the year, please refer to the Student Account Center to obtain a detailed statement of financial transactions.
For more information on these tax credits and guidance on reporting scholarships, please refer to the IRS Publication 970 - Tax Benefits for Higher Education.