Tax Information
Hope Scholarship/Lifetime Learning Credit/Tuition and Fees Deduction
The Hope Scholarship Tax Credit is available for students in their first two years of post-secondary education. The amount of the credit is 100% of the first $1,200 of tuition and qualified fees, plus 50% of the next $1,200, to a maximum $1,800 per each eligible student. The student must be enrolled at least halftime in a degree/certificate program in at least one semester or term beginning in the year for which they are claiming the credit.
The Lifetime Learning Credit is available to ISU students who are not eligible for, or who elect not to use the Hope Scholarship Credit. It is calculated at 20% of the first $10,000 of tuition and qualified fees, to a maximum of $2,000 per tax return. No minimum enrollment is required, and it is available for an unlimited number of years.
The Tuition and Fees Deduction of up to $4,000 is available to students who are not eligible for, or who elect not to use, the Hope credit or Lifetime Learning credit. This is an adjustment to income, and is available to higher income tax brackets than the credits listed above.
Only qualified tuition and fees paid from personal funds or educational loans qualify for calculation of these credits and deductions. Tax-free scholarships, employer-provided educational assistance, and other financial aid grants reduce the amount of qualified payments used in calculating the tax credits and deduction. Charges and fees associated with room, board, student activities, athletics, insurance, books, equipment, transportation, and similar personal, living, or family expenses are not qualified tuition and related expenses.
While ISU personnel are not authorized to give tax advice, more ISU related tax information is available by clicking here.
Form 1098-T
Form 1098-T showing the student's qualified expenses are mailed to the student's permanent address by February 2. Form 1098-T is also available at the Cashier's Office or by calling 282-3000 extension H.
Forms
- W-9S Form - Used to certify corrections of your name and Social Security Number with ISU.
- IRS Form 8863 and Instructions - Used to claim Hope Scholarship/Lifetime Learning Credit.
- IRS Form 8917 and Instructions - Used to claim the Tuition and Fees Deduction
- IRS Publication 970 - Tax Benefits for Higher Education
- IRS Information for Students
Contact Us
- Phone: 282-3000 Ext. H
- Fax: 282-4701
- 921 S 8th Ave Stop 8219 Pocatello, ID 83209-8219