Hope Scholarship / Lifetime Learning Tax Credit

Definition

Tax credits are subtracted from the tax a student’s family owes. To obtain a tax credit, his/her family must file a federal tax return and owe taxes. It is not refundable if the student’s family does not pay any federal income tax. If they owe less in taxes than the maximum amount of the tax credit for which the student’s family is eligible, students can only take credit for the amount owed in taxes. This is not a scholarship.

Information from Taylor University

Current students can access all of their account information on TOWER. Full and part-time enrolled students will be mailed a 1098-T statement on or before January 31. The statement is mailed to the student’s permanent address and lists charges, scholarships, and grants awarded during the calendar year. It does not contain all payment information. For students not currently enrolled at Taylor University, a 1098 transaction statement can be requested by e-mail.

Taylor University will not provide information about how to file taxes and/or the amount of credit a taxpayer may be able to claim. General information about eligibility and requirements can be accessed at the IRS web site: http://www.irs.gov. The form to use for claiming a credit on your federal taxes is Form 8863. This form is available on the IRS website. For detailed information, consult a qualified tax advisor.

Further information regarding eligibility and requirements for a federal tax credit can be found at the IRS web site: http://www.irs.gov. To claim a credit on federal taxes, see Form 8863. Taylor University does not provide information regarding filing taxes and/or the amount of credit you may be able to claim. Please consult your tax advisor on additional information.

To request a transaction listing or a duplicate of the 1098-T statement, please contact your campus of attendance:

Fort Wayne: Pam Dykehouse – pmdykehouse@tayloru.edu

Center for Lifelong Learning: Cheri Scherry – chscherry@tayloru.edu

The student's name, social security number, phone number and current mailing address are required.