Bursar
Student Tax Benefits


Two tax credits will be available for higher education expenses. The HOPE tax credit gives up to $1,500 of credit for each of the first two years of college (100% of the first $1,000 in expenses and 50% of the next $1,000). "Lifetime learning credits" are available for expenses paid after June 30, 1998. The maximum credit is $1,000 through 2002, and then the maximum increases to $2,000. Both the HOPE credit and the Lifetime learning credit phase out for higher income taxpayers. (http://www.filetax.com/97taxact.html)

Students may claim tax credits based on the amount of tuition they paid during the tax/calendar year.
Students who incurred charges when they registered with Dowling College from January 1, 2008 to December 31, 2008 will receive a printed and properly completed 1098-T form in IRS-specified format on or about January 31, 2009.

The 1098T form:
  • Is not required to be attached to your tax return to claim a credit.
  • Does not list the amount you paid.
  • Reflects only the amount of charges incurred for the tax/calendar year.
  • Cannot be reproduced.
  • Can be printed from the College website at "Student Records"; Log in; click ‘Student Services & Financial Aid’; click ‘ Tax Notification’ link and enter the tax year.
Dowling College cannot determine if you qualify for a tax credit. Contact your tax professional or visit www.irs.gov/publications/index.html & click on Publication #970 or call the IRS at 1-800-829-1040 for more information.

The financial data given on the 1098T is to assist you in computing amounts that may be eligible for a tax credit, it does not represent tax or legal advice from the College. Questions regarding the reported charges may be directed to bursar@dowling.edu. For a listing of payments made to Dowling College by term, click here

For information on tax benefits and your eligibility contact the Department of Taxation - Internal Revenue Service at 1 (800) 829-1040 or go to www.irs.ustreas.gov.

Students claiming tax credits must submit IRS Form 8863. This form is available at your local library or post office, or you may download it through the Forms and Application Finder at www.irs.ustreas.gov.

Students and taxpayers for whom the student is a dependent are advised that the College cannot provide tax assistance or advice. Call your tax advisor, and not the college, for tax assistance.
The following websites are available for more information:
Student Financial Assistance (SFA) - www.ed.gov/offices/OSFAP/Students
Office of Postsecondary Education - www.ed.gov/offices/OPE/Students
Tax Benefits for Higher Education - www.ed.gov/offices/OSFAP/Students/taxcuts.

Educational Tax Benefits handbook - www.irs.gov/publications/index.html scroll down to publication #970

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