Education Tax Credit Information

IRS form 1098-T, used for higher education tax credits, will be mailed to the student by January 31st of each year.

Publication 970 explains tax benefits if you are paying or saving for higher education costs, and can be accessed on the IRS website at http://www.irs.gov/publications/p970/index.html. This publication has information about tax credits (Hope and Lifetime Learning) and tax deductions for qualifying higher education expenses.

For more information about the Lifetime Learning credit visit the IRS website at http://www.irs.ustreas.gov/individuals/article/0,,id=96341,00.html.

For more information about the Hope credit visit the IRS website at http://www.irs.gov/faqs/faq-kw96.html.

For additional tax information for students, visit the IRS website at http://www.irs.gov/individuals/students/index.html

For other additional tax information, the NACUBO informational brochure is available at http://www.nacubo.org/documents/Paying for College 2007.pdf.

While we are happy to share these links, they are not intended as tax advice. Please consult your personal tax advisor, accountant, or the IRS Office of Public Liaison at (202) 622.2970.

This document was last modified on December 10, 2007 .