How can I learn more about the Hope Scholarship and the Lifetime Learning Credit?
The Hope Scholarship is a tax credit for eligible first- or second-year undergraduates or their parents; it is for certain educational expenses paid on or after January 1, 1998. The Lifetime Learning Credit is for eligible students who are beyond their second year of college or their parents; it is for certain educational expenses paid on or after July 1, 1998. To take advantage of the tax credits, taxpayers must submit IRS form 8863, Education Credits (Hope and Lifetime Learning Credits), with their federal tax returns to the IRS. The University will supply students with Form 1098-T, which lists all dollar information relating to the provisions of the Taxpayer Relief Act. Form 1098-T also shows the student’s demographic information (name, Social Security number, etc.) that the University provides to the IRS (the University does not supply dollar amount information to the IRS).
