Office of Financial Aid

Education Related Tax Benefits

You and your parents may be eligible to take advantage of tax credits and/or deductions. While these are not financial aid awards, they are intended to help you pay for your educational related expenses. The OSFA staff are not tax experts and cannot provide tax advice. If you have specific questions, please consult a tax expert or refer to the IRS guide on Tax Benefits for Education.

American Opportunity and Lifetime Learning Credits

You or your parents may be eligible for the American Opportunity Credit and/or the Lifetime Learning Credit. Visit the links below for more information on these credits and to determine if you may qualify:

Deductions

You and your parents may be eligible to take advantage of the Tuition and Fees Deduction and/or the Student Loan Interest Deduction. For more information on these deductions and other federal educational tax benefits, please review the IRS guide on Tax Benefits for Education.

1098T

IRS Form 1098-T is used to determine eligibility for the tax credits referenced above. University Student Financial Services and Cashier Operations (USFSCO) will produce and distribute these forms each year. To learn more about the process, please visit their website.