The Taxpayer Relief Act of 1997 (TRA) provides education tax incentives in the form of the HOPE Scholarship Credit and the Lifetime Learning Credit. These benefits allow taxpayers to reduce their federal income tax based upon qualified tuition and fees paid, assuming the taxpayer meets TRA requirements.

The HOPE Scholarship Credit is for students who are enrolled at least half-time in one of the first two years of post-secondary education and are pursuing an undergraduate degree, certificate or other recognized credential. The Lifetime Learning Credit is available to qualifying individuals who may not otherwise qualify for the HOPE Scholarship. For more information about these education tax incentives, call the Internal Revenue Service at 1-800-TAX-1040 or visit the IRS Web site.

For purposes of filing tax returns, 1098-T forms indicating amount of tuition paid and financial aid received during the tax year are mailed to taxpayers by January 31 of each year. There is a telephone number on the form to call if any of the information appears incorrect. Students may view their 1098-T online after January 31 through the 1098T Web site.