Form 1098-T Tax Information
Alfred University is required by law to report qualified tuition and related expenses billing during the calendar year using Form 1098-T. The information on the 1098-T can be used by students or parents of dependent children to claim education tax credits against your federal income taxes.
Please Note: The employees of AU cannot provide tax advice or determine eligibility. Please consult your tax professional or visit the IRS website; Publication 970, Tax Benefits for Education, for further information on the American Opportunity and the Lifetime Learning credits.
To view and print your current and/or prior year's 1098-T forms:
- Login to Banner Web
- Click the Tab for "Student Services"
- Click on "Student Records" on the left sidebar
- Click on the link for "Tax Notification"
Your Form 1098-T Will Be Available on Banner Web By January 31
In order for Alfred University to properly submit the Form 1098-T to both the IRS and the student, your correct SSN or Individual Taxpayer Identification Number is required. To add or correct the current SSN on file, please download and complete the Form W-9S and return it to the Student Service Center via fax or in person.
Beginning November 1, you can opt-in to receive your Form 1098-T electronically. If you would like to do so, please visit the Heartland ECSI website and follow the step-by-step instructions. If electronic consent is not received by January 1 the 1098-T will be mailed to your off-campus local or permanent address on file.
Box 1 includes all forms of payment towards Qualified Tuition & Related Expenses. This includes but is not limited to cash, check, EFT, 529's, scholarships, grants, and loans.
This amount cannot exceed the amount you were charged for qualified tuition and related expenses. (ie: if qualified tuition and fees totaled $30,000 and payments received from all sources totaled $34,000. The total in Box 1 would be $30,000.)
Qualified Tuition and Related Expenses are Tuition, Student Service Fees, and Course Fees.
Non-Qualified items include (but are not limited to) Meals, Housing, Health Services, Parking Passes/Fines, Library and ITS Fines, Lost ID Charges, etc.
Box 5 lists all scholarships, grants, and financial aid (not including loans or fellowships) that you received that were processed on your behalf by Alfred University.
Box 5 may exceed amounts reports in Box 1.
Box 1 cannot exceed the total you were charged for qualified tuition and related expenses. Your student account may include meals, housing, etc. that are non-qualified so the total payments you made may be more than your qualified tuition and related expenses. Box 1 is the total of payments made towards qualified tuition and related expenses.
Typically, charges are posted to your student account in December for the Spring semester, however, Financial Aid is not posted against your account until January. This means that your charges will appear in one year's 1098-T but your scholarships/grants for the same term will not appear until the following year's 1098-T. Federal Regulations require financial aid to be released per this timeline.
Box 5 is the total of all financial aid scholarships, grants, and third-party payments per IRS instructions. A students financial aid is based on their 'cost of attendance' which includes costs that may not be considered qualified but are still required to be reported to the IRS.