Students

Under the Taxpayer Relief Act of 1997, certain tax benefits may be available to students who have incurred qualified expenses for higher education. To assist you in the determination of eligibility for an education tax credit we have provided you with the information below:

Credit Requirement Highlights

 American Opportunity CreditLifetime Learning Credit
Maximum CreditUp to $2,500 credit per eligible studentUp to $2,000 credit per return
Limited on modified adjusted gross income (MAGI)$180,000 if married filing jointly; $90,000 if single, head of household, or qualifying widow(er)$124,000 if married filing jointly; $62,000 if single head of household, or qualifying widow(er)
Refundable or non-refundable40% of credit may be refundable; the rest is nonrefundableNonrefundable-credit limited to the amount of tax you must pay on your taxable income
Number of years of postsecondary educationAvailable ONLY for 4 years of postsecondary educationAvailable for all of postsecondary education and for courses to acquire or improve job skills
Number of tax years credit availableAvailable ONLY for 4 tax years per eligible student (including any year(s) Hope credit was claimedAvailable for an unlimited number of years
Type of degree requiredStudent must be pursuing a degree or other recognized education credentialStudent does not need to be pursuing a degree or other recognized education credential
Number of coursesStudent must be enrolled at least half time for at least one academic period beginning during the yearAvailable for one or more courses
Felony drug convictionAs of the end of 2012, the student had not been convicted of a felony for possessing or distributing a controlled substanceFelony drug convictions are permitted
Qualified expensesTuition, required enrollment fees, and course materials that the student needs for a course of study whether or not the materials are bought at the educational institution as a condition of enrollment or attendanceTuition and required enrollment fees (including amounts required to be paid to the institution for course-related books, supplies, and equipment)
Payments for academic periodsPayments made in 2012 for academic periods beginning in 2012 or beginning in the first 3 months of 2013 

Please Note: We encourage you to speak with your tax advisor to determine your eligibility and credit options. The IRS may also be a useful resource. If you have any questions regarding the Form 1098-T you may also call the Bursar’s Office.

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Office of the Bursar

The office of the Bursar provides information related to tuition rates and fees, as well as payment options and billing deadlines.