In addition to financial aid, the federal government offers tax benefits to families paying educational costs. These benefits, which have been enhanced as a result of the Economic Stimulus Package, are in the form of tax credits and deductions.
College students and their parents should take advantage of these benefits, which can add up to a significant savings. If you have questions regarding these credits and deductions, contact a tax professional or visit irs.gov.
Additional information regarding tax benefits may be viewed in the 2015 Higher Education Tax Benefits or on the NASFAA website.
Tax Documents & Tax Benefits Available
Student 2016 W-2 and 1098-T tax documents were mailed to student's preferred mailing address and are available online. Students may access their 1098-T on MySaints, and their W-2 on their ADP account. For information regarding tax documents, please visit irs.gov.