The Free Application for Federal Student Aid (FAFSA) is required to be eligible for most financial aid. The FAFSA must be completed each year. Students can now submit the FAFSA as early as October.
Student Accounts is part of the OneStop Student Services. Our OneStop counselors are cross-trained in student accounts and billing questions. If you cannot find what you need online, or simply want to speak with someone in person, our counselors are here to assist you. Contact OneStop if you need help.
The Student Accounts and Billing pages are designed to help you and your family understand and manage your student account and billing information. Please take a few minutes to look over these pages for additional information regarding your student account.
New 1098-T updates for 2018
In previous years, your 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) we billed to your student account for the calendar (tax) year. Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, we will report in Box 1 the amount of QTRE you paid during the year.
Depending on your income (or your family's income, if you are a dependent), whether you were considered full or half-time enrolled, and the amount of your qualified educational expenses for the year, you may be eligible for a federal education tax credit. (You can find detailed information about claiming education tax credits in IRS Publication 970, page 9.)
The dollar amounts reported on your Form 1098-T may assist you in completing IRS Form 8863 - the form used for calculating the education tax credits that a taxpayer may claim as part of your tax return.
The College of Saint Scholastica is unable to provide you with individual tax advice, but should you have questions, you should seek the counsel of an informed tax preparer or adviser.
The College of Saint Scholastica will be mailing your 1098T form by January 31, 2019. For more information about Form 1098-T, visit https://www.irs.gov/pub/irs-pdf/f1098t.pdf.