Tax and 1098-T Information

Tax and 1098-T Information

American Opportunity & Lifetime Learning Tax Credit Information



The American Opportunity Credit takes the place of the HOPE Credit. The HOPE credit is for tax years 2008 and prior. The Lifetime Learning Tax Credit remains.

IRS Publication 970, Tax Benefits for Higher Education will assist taxpayers in determining their eligibility for the tax credits.  You may obtain this Publication from any IRS office, or download it from the Internet at irs.gov/forms_pubs/pubs/p970toc.htm.  The IRS addresses specific questions that taxpayers may have concerning their eligibility for the tax credits here.

In addition, if you have not supplied your social security number to Rowan University, please complete the IRS FORM W-9S part 1, which can be found at http://www.irs.gov/pub/irs-pdf/fw9s.pdf.

Form 1098T will be mailed to students by January 31st, unless the student has opted to receive this form electronically. It is informational only. It alerts the student that they may be eligible for federal income tax education credits.

The college provides in Box 1 payments received for qualified tuition and fees that were billed to you. IRS education credits are based on amounts paid by you, not billed to you.


1098-T Frequently Asked Questions


What is a 1098-T?

1098-T form is the information return that colleges and universities are required to issue for the purpose of determining a student's eligibility for the American Opportunity Credit and Lifetime Learning education tax credits. Rowan University reports payments received for qualified tuition and related expenses, prior year adjustments, and grants and scholarships.


How may I obtain a copy of my 1098-T?

You can sign up to receive your 1098-T electronically by going to rowan.edu/epay. Log in using your Rowan ID and PIN. Select “My Account,” then select “Agreements,” then “Change.” A “Paperless 1098-T Option” message will appear with an option for consent. By clicking on “Accept Consent,” students state their intent to receive their 1098-T form every year they attend Rowan University, and it is on this site that students can print, e-mail, or save their 1098-T form. 

Students can also access their 1098-T via Banner Self-Service. Select “Access Banner Services.” Enter your Rowan ID and PIN. Select the Bursar tab on the main menu. Select "1098-T Form." Enter appropriate tax year. Click "Submit."

Can I get a copy of a prior year's 1098-T?

Yes. To access a prior year 1098-T Tax Form online, go to Banner Self-Service. Select "Access Banner Services." Enter your Rowan ID and PIN. Select the "Bursar" tab on the main menu. Select "1098-T Form." Enter appropriate tax year. Click "Submit." 

You may also access your 1098-T form by logging directly into the ePay system.  Once logged in, choose "My Account," then choose "Statements."  Click on the option for "1098-T Statements."  Choose the desired tax year by clicking on the Action button to the right, then click "View" from the pop-up menu option.  A PDF file will be generated, so be sure your pop-up blocker is disabled for this site.


Did you send a copy of this form to the Internal Revenue Service (IRS)?

Yes, being that Section 6050S of the Internal Revenue Code, as enacted by the Taxpayer Relief Act of 1997, requires institutions to file information returns to assist taxpayers and the IRS in determining eligibility for the American Opportunity Credit and Lifetime Learning education tax credits. The annual deadline for the University to file the required tax information electronically is April 2nd, although data may be transmitted earlier as circumstances allow.


What am I supposed to do with the 1098-T form?

We advise that you keep it for your records. Since the University sends your 1098-T information to the IRS, there is no need to attach a copy of the form to your tax return. The information contained in the 1098-T will help you to determine if you may claim the eligible education credits using IRS Form 8863.


The Social Security Number (SSN) on my form is missing or incorrect. What should I do?

Reporting to the IRS depends primarily on your SSN, so it is very important for you to have the correct information on file with the University. Please complete a W-9 form and submit it to the Office of the Bursar. Upon receipt of your communication, we will provide you with an updated copy of your 1098T within ten (10) business days. The annual deadline for the University to file 1098-T tax information electronically with the IRS is February 12th, although data may be transmitted earlier as circumstances allow. Please make sure any updates are completed before mid-March to promote accurate filing.


The name on my form is incorrect. What should I do?

Your name is a key element of your tax information, so be sure to submit changes to the University as soon as possible. All name changes are handled by the Office of the Registrar. After your name has been updated, please contact us at bursar@rowan.edu or (856) 256-4150.


What does an amount in Box 1 mean?

Box 1 represents payments received for qualified tuition and related expenses (QTRE). The amount reported is the total amount received less any refunds. The amount reported includes scholarships and grants reported in Box 5.

What is Box 3 checked?

Due to a change to institutional reporting requirements under federal law, we will report in Box 1 the amount of QTRE you paid during the year and no longer report in Box 2 the amount billed.


What does an amount in Box 5 mean?

Box 5 ("Scholarships or grants") shows the net amount of certain forms of educational assistance that were received or applied to your student account during the tax year (January - December), regardless of the quarter for which the funds originally were intended. For example, if you received a check for a Fall 2017 Pell Grant in 2017, the amount of the check would be added into Box 5. Note that the amount in Box 5 may include fee payments and other credits, as well as payments from outside resources. Any subsequent adjustments or reductions to educational assistance that occurred in the same tax year are summed into the amount. The net amount is sent to the IRS.


What does the check mark in Box 7 mean?

Box 7, if checked, indicates that "Amounts paid" in Box 1 include "Pre-billed tuition and related expenses". These fees are those billed during the tax year for a quarter beginning in the first three (3) months of the following tax year.


What does the check mark in Box 8 mean?

Box 8, if checked, indicates that you were considered to be "enrolled at least half-time" for one or more quarters during the tax year. At Rowan University, "at least half-time" means that you were enrolled in 6 or more units for any term.

In order to claim the American Opportunity Credit, a student must be enrolled at least half-time in a program that leads to a degree, certificate, or other recognized educational credential for at least one academic period beginning during the tax year. (See "Who is eligible” in IRS Publication 970: Tax Benefits for Education for more information.) Note that a check mark does not guarantee your ability to claim the American Opportunity Credit, as additional eligibility requirements must be met. Also note that the workload requirement does not apply to the Lifetime Learning Credit, which is allowed for any level of enrollment.



NOTE: The information provided here is NOT tax advice. It is offered only as general information for Rowan University students and their families. Please consult a qualified tax expert for advice on computing, claiming, or determining qualification for any tax benefit.