1098-T Statement and Tax Credits
If you are a U.S. resident, for tax purposes, you may be eligible to claim a tax credit on your federal tax return if you paid qualified educational expenses to Vassar. The Taxpayer Relief Act of 1997 provides educational tax incentives for eligible taxpayers. These benefits allow taxpayers to reduce their federal income tax based upon qualified tuition and fees paid, assuming the taxpayer meets all eligibility requirements. The determination as to whether you qualify for tax credits should be made in consultation with your personal tax advisor or the Internal Revenue Service. Vassar College cannot give you tax advice or make a determination as to whether you qualify for tax credits.
Read more about federal tax benefits for higher education.
The 1098-T Form
The 1098-T form is used by educational institutions to report information about their U.S. resident students to the IRS as required by the Taxpayer Relief Act of 1997. Vassar reports certain enrollment and identifying information regarding U.S. resident students for whom Vassar has received payments of "qualified education expenses" for the corresponding tax year. Included in the 1098-T form are qualified charges that were billed and financial assistance received for the corresponding tax year. Loans are excluded and not reported on the 1098-T form. Educational institutions are not required to provide 1098-T forms to students who are non-resident aliens for tax purposes. As a result, you may not receive a 1098-T form from Vassar if you are an international student.
Receive your 1098T Electronically
If you would like to receive your 1098-T form electronically, then please give your consent by filling out the TaxSelect Electronic Consent (1098-T) form.
View Your 1098T Online
Visit HeartlandECSI. Under Student and Borrowers, click “View your 1098T tax form." Click "Log In" and enter your School Code (VP) Account Number (Social Security Number) and Pin/Password. If you don't have a pin/password, enter 'VP' for the school code, then click 'need help logging in', and follow the instructions.
Have you not receive a 1098T?
It may be for one of the following reasons:
1. You have graduated. All students who graduate in May, we bill for the spring tuition in the prior term, that would have been included in your prior year 1098T
2. If your scholarships/Grants are more than tuition bills, then Vassar is not required to send a 1098T form per IRS.
3. If you are not a US citizen or Permanent Resident, then Vassar College is not required to send a 1098T form
If you need the figures that would have been on the 1098T, then contact us and we can provide that information.