Tax Credits & 1098-T Forms

What is FORM 1098-T?

IRS Form 1098-T, Tuition Statement, contains information to assist the Internal Revenue Service (IRS) and you in determining if you are eligible for any educational-related tax credits. Champlain College provides the IRS Form 1098-T by January 31st for students to use in preparation of their previous fiscal year's tax return.

FAQs about how to interpret my 1098T Form (PDF) here.

See Understanding my Form 1098-T (PDF) here.

Please refer to IRS Publication 970, Tax Benefits for Education, for use in preparing your tax return

When will I receive my Form 1098-T?

Your electronic Form 1098-T will be uploaded to your student account through Self Service by January 31.

If you did not consent to an electronic Form 1098-T, the form will be mailed to your home address on file with Champlain College. The form will be sent on January 31.

The fastest way to receive your tax form is to enroll in electronic delivery. You will receive the form by January 31 of each year and have access to your form from any computer. To ensure you receive your Form 1098-T electronically, please update your preferences on Self Service by January 20. See instructions above to update your consent.

Am I required to submit my Form 1098-T to the IRS?

No. The Form 1098-T is for informational purposes only and you are not required to submit the form to the IRS. The amounts reported comply with the IRS regulations for reporting by higher education institutions. These guidelines do not typically allow tax filers to directly transfer the figures to their tax returns. Transactions that are posted during the calendar year, January 1 through December 31, are reported on the Form 1098-T. You should use your own personal records to submit payments for Qualified Tuition & Related Expenses for the calendar year to the IRS. Your account detail in WebAdvisor can help with this information. Choose "Account Activity" or "Payment History" and select the date range for the calendar year.

Student and Authorized Users can access the Form 1098-T by going here to log into touchnet®.

What educational expenses are considered qualified tuition?

Qualified tuition and related expenses include Tuition, Program or Lab Fees, Health & Activities Fees, Comprehensive Student Fees, and Graduation Fees.

Who is an Eligible Student?

• A student who was enrolled at least half-time in a college program leading towards a degree, certificate, or other recognized education credential for at least one academic period during the tax year.
• A half-time undergraduate student must complete six credits and a half-time graduate student must complete three credits.
• Students enrolled as non-degree students may not receive the Form 1098-T. Your expenses may still be deductible and should be discussed with your own tax professional.
• Students whose employer paid for 100% of their tuition are not eligible to receive the Form 1098-T.

Who do I contact if I have additional questions?

If you have additional questions about your Form 1098-T, please contact Compass Student Services by phone & text at 802-992-1474 or email at compass@champlain.edu.

Please note that Champlain College is prohibited from providing legal, tax, or accounting advice to students or parents and is not responsible for any use you make of the information provided on the Form 1098-T.

Other Information

Some limitations, including certain income limits, apply to all tax credits as well as the Student Loan interest deduction. Please consult the IRS or your tax consultant for further information.

For further information on education tax benefits, please explore these resources:

• Internal Revenue Service website
• IRS Publication 970 - Tax Benefits for Education
• IRS Form 8863 - Education Credits