Hope Scholarship and Lifetime Learning Tax CreditFIND OUT IF YOU ARE ELIGIBLEHope Scholarship Tax Credit, effective January 1, 1998: To
be eligible, a student must be enrolled at least half-time, during
one of the terms in the year and be enrolled in a degree, certificate
or other program leading to a recognized education credential. The
program provides a tax credit up to $1,500 per student of qualified
tuition and related expenses. Students convicted of a felony related
to the possession or distribution of a controlled substance are not
eligible. The tax credit is also reduced when other aid such as a
Pell Grant pays the tuition and fees expense. Lifetime Learning Tax Credit, effective June 30, 1998:
The Lifetime Learning Tax Credit is also available to students
for undergraduate, graduate and continuing education course work.
This credit is equal to 20% of the first $5,000 per family of qualified
tuition and related expenses. After 2002 the allowed credit amount
will change. There are restrictions on family income and timing of expenses for both tax credits. For further information, please refer to Tax Publication 970, Tax Benefits for Higher Education. Consult your tax advisor or the IRS - call 1-000-829-1040. College employees cannot provide tax information to students. If you feel your 1098-T is not correct, please call 360-538-4040 from 8 a.m. to 4:30 p.m., Monday through Friday, to leave a message and the appropriate individual will return your call. To view or print a copy of your 1098-T information, enter your Student ID number and PIN number on the Financial Aid Welcome page.
|
©1998 Richard Wenke