Q: What is the 1098-T form and what is it used for?
A: The Tax Relief Act of 1997 provided for new Federal tax credits for educational costs. The 1098-T form provides students with the information regarding their tuition, fees and financial aid that would be needed to determine eligibility for those tax credits.
Q: Do I qualify for a Hope Scholarship or Lifetime Learning Tax Credit?
A: Stevens cannot determine your eligibility, as it is based on the tax filer’s income and other criteria. You (or your parents) should consult with a tax advisor or accountant, the staff at the Student Service Center is not qualified to offer tax advice.
Q: I didn’t receive my 1098-T form.
A: Go to the Web for Students (www.stevens.edu/es/student) to view the information or to print up a duplicate. You do not submit this form along with your tax return, therefore an original or “official” form is not necessary.
Q: Why is the box on the 1098-T labeled “Payments received…” left blank?
A: Schools are required to provide either the payments received or amounts billed, and it is our practice to provide the amounts billed. Taxpayers may use either to determine eligibility for tuition tax credits.
Q: I’m a former student. How do I access the Web for Students?
A: Contact the Computer Center Help Desk at 201-216-5500 for assistance in reactivating your account.
Q: I was billed for an amount that isn't reflected on my 1098-T form.
A: E-mail our 1098-T e-mail help line at 1098T@stevens.edu or call the Student Service Center at 201-216-5555 to have your account reviewed. A staff member can send you a printout of all account activity for the calendar year. Stevens only reports the amount for which students were billed during 2007, not the amount they paid.
Q: I registered for the Spring 2007 semester but it isn’t reflected on my 1098-T form.
A: Most Spring semester billing takes place during the previous calendar year, so your Spring 2007 tuition and fees were most likely billed during 2006, in which case the information would have been included on your 2006 1098-T.
Q: I didn’t receive the scholarship or grant amount listed in box #5 of my 1098-T form.
A: Contact the Student Service Center at 1098T@stevens.edu or 201-216-5555 to have your financial aid records reviewed.
Q: My parents are divorced, which of them may receive this tax credit?
A: Only the parent who deducts the student on his or her taxes may qualify for these tax credits.