Tuition and Aid

Taxpayer Relief Act - 1098T

You may qualify for educational tax credits.

The American Opportunity Tax Credit is a federal program that provides up to $2,500 a year to help offset the cost of your tuition, fees, books, and supplies during your first four years of college. Under the Taxpayer Relief Act of 1997, including the HOPE and Lifetime Learning Credits, eligible families may claim tax credits for educational costs. Please visit the website of our partner, ECSI, to find information regarding the Taxpayer Relief Act, Hope Scholarship Credit, and Lifetime Learning Credits. You can also go to ECSI to check the information on your 1098-T form, or make changes to the enrollment data that will be reported to the Internal Revenue Service (IRS) by Lasell. Students may find additional 1098T information at ECSI

We have provided some basic information below, however, we encourage you to talk with a tax professional or visit Tax Credit for details.

How do I qualify?

If you're like most Lasell College undergraduates, your parents claim you as a dependent and will file for the tax credit on their tax return. They may qualify for it if they earn less than $180,000 a year ($90,000 for single filers) and if you're enrolled as an undergraduate at Lasell College at least half time. If you are not claimed as dependent, you may qualify according to the same income limits. Filers who don't qualify for the American Opportunity Tax Credit may qualify for the Lifetime Learning Tax Credit.

How will I receive Form 1098-T?
Forms are generated in January for all students who meet the IRS's reporting requirements. 1098-T forms are available electronically. All students are asked to opt-in to receive the form electronically each year. If the opt-in is not done a form will be mailed to the permanent address on file. Forms will be delivered electronically to your Lasell College email address by early February. You may also download, view and print your 1098-T at ECSI.  If you have not done so already, please provide your social security number or international tax ID (ITIN) to Lasell College prior to the end of the calendar year by filling out a W-9S form (see the Forms tab in the left margin) and returning it to Student Accounts.

Why does the form look different from years past?
When you receive your tax document in 2019 for the 2018 tax year, it will look slightly different than it has in prior years. Congress and the IRS eliminated the option for colleges and universities to report the "amounts billed" on form 1098-T. Colleges and universities must now report the "amounts paid" for qualified tuition and expenses. This change went into effect for the 2018 tax year.

Why the change?
Based on a report compiled by the US Inspector General for Tax Administration, it was determined there were a large number of errors as it relates to educational tax credits. The majority of these errors were caused by confusion regarding Box 2 (amounts billed) reporting. This change eliminates this confusion and the potential for inaccuracies on 1098-T forms going forward.

So, what does that mean for you?
This means that you will no longer see any amounts in Box 2 (Amounts billed for qualified tuition and related expenses) on your 1098-T form. You will, however, see an amount in Box 1 (Payments received for qualified tuition and related expenses).

Why did I not receive a form?

All U.S. citizens and permanent residents will be issued a 1098-T if qualifying transactions take place during the calendar year, regardless of whether or not we have your SSN or ITIN. Submitting your 1098-T without a SSN or ITIN may result in a fine by the IRS.
If you do not have a qualifying transaction OR you are an international student that does not have an ITIN on file with Lasell College, you will not receive a form.

How do I claim the credit?
If your parents claim you as dependent on their tax return, be sure to give them the IRS "Tuition Statement" Form 1098-T that Lasell College will send you electronically. You may then email the form to your parents.

If you file your own taxes, your tax preparer or tax filing software will guide you through the process. Be sure to include the 8863 Form

How much will I get?
The maximum credit is $2,500. Even if you do not owe taxes, you may be able to receive up to $1,000 (40% of the credit is refundable!)

What educational expenses qualify?

Out-of-pocket payments for tuition, fees, required textbooks, course materials, and supplies qualify.

Can I get the credit if I use loans to pay for school?
Yes. Qualified expenses paid with student or parent loans are eligible for this tax credit. However, qualified expenses paid with grants or scholarships are not eligible.

My parents have two children in college. Can they claim the credit for both of us?

Yes, as long as both students are undergraduates enrolled at least half time at an eligible institution and in their first four years of a program leading to a degree or certificate.

For more information:

Internal Revenue Service:
Financial Aid: Guide to Financial Aid:
Student Tax Information: or call (866) 428-1098