Tax Benefits for Education

Tax Benefits for Education
Web site for the tax benefits information:

http://www.irs.gov/ and search for Publication 970 -- Tax Benefits for Education. The IRS Publication 970 will answer your educational tax credit questions.

The College sends IRS Form 1098T to the student's home prior to January 31 of each year. This form indicates the amount billed for tuition and related fees (not room and board) to the student for the tax/calendar year. It also notes the amount of scholarship/grant awarded to the student.

The IRS also requires the College to obtain the student's taxpayer identification number (social security number SSN or individual taxpayer identification number ITIN) to file the 1098T form. If your student is notified by the Student Accounts Office to complete the IRS form W9-S, please access the IRS website listed above and download the form W9-S . Complete PART 1 only of the form. Please return the completed form to the Student Accounts Office, PO Box 1773 Carlisle, PA 17013-2896; by fax to (717) 245-1850; or email to stuaccts@dickinson.edu. You may also call the office between the hours of 8:30 am and 4:30 pm, Monday through Friday by dialing (717) 245-1953.

IRS Form 1098E is sent to students/parents with educational loans from loan servicing agencies. This form lists the interest paid for the tax year for educational loans. Although this interest may be deductible, lending institutions are not required to send them out if the interest amount is less than $600.00 for the tax/calendar year.