1098-T Information

The 1098-T form is used by eligible educational institutions to report information about their students to the IRS as required by the Taxpayer Relief Act of 1997. Eligible educational institutions are required to submit the student's name, address, and taxpayer’s identification number, enrollment and academic status.

This form is informational only. It serves to alert students that they may be eligible for federal income tax education credits. It should not be considered as tax opinion or advice. While it is a good starting point, the 1098-T, as designed and regulated by the IRS, does not contain all of the information needed to claim a tax credit. There is no IRS requirement that you must claim the tuition and fees deduction or an education credit. Claiming education tax benefits is a voluntary decision for those who may qualify.

In January of each year, The New School provides a 1098-T Tax Form to all eligible students who had qualified tuition and other related educational expenses billed to them during the previous calendar year. This form is informational only and should not be considered tax opinion or advice. It serves to alert students that they may be eligible for federal income tax education credits. Receipt of a 1098-T Tax Form does not indicate eligibility for the tax credit. To determine the amount of qualified tuition and fees paid, and the amount of scholarships and grants received, a taxpayer should use their own financial records. You can visit the IRS website to review IRS Publication 970 for more specific instructions.

There are a number of reasons you may not need a 1098-T Tax Form. In some cases, your qualified tuition and related expenses could have been covered entirely by scholarships, grants, or an arrangement through your employer or a government entity. Other reasons for not receiving a 1098-T Tax Form are if you are not a United States citizen, if you are listed as an international student for tax purposes, if you received no academic credit for the calendar year, or if your tuition was billed for a different calendar year.

Your 1098-T Tax Form reflects only payments for qualified tuition and related expenses that occurred within the calendar year. It does not reflect all charges. This form is intended only to indicate that you may be eligible to take an educational credit on your income taxes and does not need to be submitted to the IRS with your income tax return. Provide this form to your tax preparer for assistance in determining whether you can take an educational credit on your tax return. You can access your Qualified Tuition and Related Expenses history through MyNewSchool as well.

The payments in Box 1 are based on the date when you registered for classes. Your 2023 1098-T reflects all qualified payments posted to your student account during the 2023 calendar year. Refunds and reimbursements that occurred during the same calendar year related to payments made and applied to qualifying tuition-related expenses are deducted from total payments made. You can provide this form to your tax preparer for assistance in determining whether you can take an educational credit on your tax return.

If there are no Qualifying Tuition Related Expenses for the 2023 calendar year even if payment was made, a 1098-T Tax Form will not be generated.

Note: If payment was made for a billed past-due qualified tuition related expense from a previous calendar year, this amount may also be reported in the total amount in Box 1.

Reporting to the IRS depends primarily on a student’s Social Security Number (SSN) or Taxpayer Identification Number (ITIN). It is important for the student to have the correct information on file with the university. If your 1098-T has an incorrect or missing SSN, ITIN, name, or address, please contact the Registrar’s Office to ensure that your student records are up-to-date. The office's website has information on how to have your record updated and office hours.

Included

• Degree program tuition and fees required for enrollment
• Course and program fees
• Mandatory fees

Not Included

• Residence hall charges
• Application fees
• Transcript fees
• Diploma fees
• Payment plan fees
• Books and other expenses issued directly to the student
• Student health insurance

Call Heartland ECSI at 1.866.428.1098 with questions about your 1098-T Tax Form. You can also visit the website for a Live Chat or email Heartland ECSI at [email protected].