Tax Credit 1098-T Tax Information

Neumann College is required by the Internal Revenue Service (IRS) to issue the 1098-T form (Tuition Statement) to any student enrolled during the academic terms in the calendar year 2007 and 2008, and billed in calendar year 2007.  For terms in calendar year 2007, Form 1098-T documents if your enrollment status is at least half time, and whether you were enrolled as a graduate student during the reporting period.  The form also shows the amount billed for qualified tuition expenses, and any scholarships or grants received between January 1 and December 31, 2007.  Additionally, the form includes calendar year 2007 adjustments to charges, scholarships, and grants to prior years.

The Taxpayer Relief Act of 1997 included two tax credits that may be available to persons who pay higher education costs:  The Hope Credit and The Lifetime Learning Credit.

Neumann College cannot determine if you are eligible for either of these credits or the amount of credits for which you may qualify.  Please consult your tax advisor or IRS Publication 970, Tax Benefits for Higher Education, for more information.

To determine the amounts of tuition and fees paid during the calendar year, please consult your records or go to your student account on web advisor.