The following is public information regarding the tax
benefits for higher education. The Student Financial
Aid Office is not qualified to provide tax advice. You
will need to contact a Certified Public Accountant to
see if you qualify for these tax benefits.
The Hope and
Lifetime Learning tax credits benefit students or
parents who pay tuition and
related expenses for attendance
at least half time in a degree seeking program. These
credits are subtracted directly from the total federal
tax on a tax return. The Cashiers office will send
you a 1098T to assist you in calculating the amount of
your
credit.
You may be able to deduct the interest you paid
during the year on qualified student loans. Certain income
restrictions
apply.
Read the IRS Publication 970: Tax
Benefits for Education (pdf) for more information
on these benefits and others
not listed here.
