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Tax Information (1098-T Form)

Each January the Student Accounts Office issues 1098-T, Tuition Statements to all students.

The forms include information about amounts billed for qualified tuition and related expenses at Swarthmore College for the past calendar year, as well as the total of all scholarships or grants administered and processed by the College in the past calendar year.

Frequently Asked Questions About the 1098-T

Tax Credits

The Taxpayer Relief Act of 1997 included two tax credits that may be available to persons who pay higher education costs:

Hope Credit/American Opportunity Tax Credit

Students may be eligible to claim a this tax credit up to $2,500 for qualified tuition and related expenses when enrolled in an eligible educational institution.

Lifetime Learning Credit

Students may be eligible to claim a Lifetime Learning credit of up to $2,000 per family for the total qualified tuition and related expenses paid during the tax year for all students who are enrolled in eligible educational institutions.

Please Consult a Professional

Swarthmore College cannot determine if you are eligible for either of the credits or the amount of credit for which you may qualify. Please consult your tax advisor or IRS Publication 970, Tax Benefits for Higher Education, for more information. Note that the amount of scholarships or grants for the calendar year (including those not reported by the institution) may reduce the amount of any allowable tuition and fees deduction or the education credit you may claim for the year.

IRS Resources