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Tax Information

Lifetime Learning Tax Credit and HOPE Scholarship 1098-T Form - Overview

Tax Information

Ramapo College is required to furnish a 1098-T to all students who incurred qualified tuition with related expenses and posted corresponding payments during the current tax year.  The 1098-T is an Internal Revenue Service (IRS) form provided to students who enroll in classes at Ramapo College and can be used to assist students and families in determining if they are eligible to claim the Hope Scholarship or Lifetime Learning Tax Credit.  Ramapo College is required to provide the 1098-T by IRS regulations for those students with a valid Social Security number.

The 1098-T is provided each year on or before January 31st, per IRS regulations.

The data reported on the 1098-T is based on the tax year from January through December, not on the academic year.

In previous years, your 1098-T included a figure in Box 2 that represented Qualified Tuition Related Expenses, QTRE we billed to your student account for the tax year.  Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, we will report your payments made towards Qualified Tuition Related Expenses, QTRE.  Your QTRE payments will be reported in Box 1.

The dollar amounts reported on your Form 1098-T may assist you in completing IRS Form 8863 – the form used for calculation the education tax credits that a taxpayer may claim as part of your tax return. (https://www.irs.gov/forms-pubs/about-form-8863)

Ramapo College is unable to provide you with individual tax advice, but should you have questions, you should seek the counsel of an informed tax preparer or advisor.

For more information about Form 1098-T, visit https://www.irs.gov/forms-pubs/about-form-1098-t or Publication 970 https://www.irs.gov/forms-pubs/about-publication-970

Viewing/Printing 1098-T Form – Instructions

How to retrieve and view your 1098-T Form:

Ramapo College of NJ has partnered with ECSI, offering you the opportunity to receive your 1098-T Tuition Statement electronically this year. If you would like to receive your 1098-T form electronically, please give your consent by following the link provided below and following the step by step instructions. 1098-T’s will be provided by the end of January.

1098-T Electronic Consent 

1098-T Form – Instructions

IRS Form W9-S

If you recently received notification from the Office of Student Accounts that Ramapo College does not have a valid social security number on file for you, and you wish to submit this information for tax purposes please click HERE for IRS Form W9-S. Please fill out this form and return it to the Office of Student Accounts.

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