Tax Credits and 1098-T
Creighton University or it's employees are unable to provide tax advice to students or parents. It is the taxpayer's responsibility to determine and document the information used in their tax return. For tax assistance, please refer to the IRS publication 970 or consult your qualified tax professional.
Federal Tax Credits and Benefits for Higher Education
The Taxpayer Relief Act of 1997 included several benefits to aid students or their parents in meeting the cost of higher education. Included in these benefits are the American Opportunity Credit*, Hope Credit, the Lifetime Learning Credit, and Student Loan Interest Deduction. To learn more about these Federal tax benefits and credits, please visit the following web sites:
- IRS web site: IRS Tax Benefits for Education - Information Center
- IRS Form 8863: Education Credits (American Opportunity, Hope, and Lifetime Learning Credits) and corresponding instructions.
- IRS Topic 456 - Student Loan Interest Deduction
*Attention* The Hope Credit has been modified for tax years 2009 and 2010 by the American Recovery and Reinvestment Act of 2009.
The IRS Form 1098-T is issued to all students who attended an eligible educational institution and who paid qualified tuition and fees for the calendar year they are in attendence. The information on Form 1098-T is used to determine if you are eligible to claim an education credit on your Federal Income Tax Return for the applicable tax year. This form is to be used by the taxpayer or their tax advisor to compute any eligible tax credit.
When will the 1098-T become available?
Creighton University is required to provide the student or parent with the 1098-T information for the applicable tax year by January 31st of each calendar year. The 1098-T for the qualified educational expenses can be viewed and printed through the student self service NEST web site. Students* who graduate or leave Creighton University can still access their 1098-T tax information on their NEST web site for up to 1 year after they leave the University. View the NEST instruction guide on how to obtain your 1098-T information.
* Students who are having difficulty accessing their NEST website may need to reset their password. Students can reset their password themselves by clicking on the "HELP" link in the top right hand corner of the NEST student/faculty login page. You may also call the Creighton Help Desk at (402) 280-1111 option 2 for assistance.