Important Information Regarding 2014 1098-T Forms
During calendar year 2014, the College billed tuition and fees for fall semester 2014 and spring semester 2015. During calendar year 2014, the College disbursed scholarships and grants for spring semester 2014, fall semester 2014, and spring semester 2015.
There may be confusion because the spring semester 2014 scholarships and grants were disbursed in 2014 after the start of spring semester and did not fall into the same calendar year as the billing for spring semester 2014.The intention for the spring 2014 disbursement was to post scholarships and grants after the drop/add period in order to ensure accuracy and minimize transactions to adjust students’ accounts.
College administration has decided that this is not an efficient or effective way to handle disbursements, as parents and students prefer to see scholarships and grants credited at the time billing charges are posted to the student’s account.
In the future, the timing of financial aid postings will coincide with the billing for each semester with the exception of necessary financial aid adjustments.In conclusion, the 2014 1098-T Forms, as required, report the transactions that occurred during the calendar year 2014.
If you have any further questions, please feel free to contact Carol Morgan at 610-902-8289.
Cabrini College is required by the Internal Revenue Service (IRS) to issue Form 1098‑T (Tuition Statement) to any student enrolled during the academic terms in the current and prior calendar year, and billed in the prior year.
Form 1098‑T documents if your enrollment status is at least half time, and whether you were enrolled as a graduate student during the reporting period.
The form also shows the amount billed for qualified tuition expenses and any scholarships or grants received between January 1 and December 31. Additionally, the form includes adjustments to charges, scholarships, and grants for prior years.
The Taxpayer Relief Act of 1997 included two tax credits that may be available to persons who pay higher education costs: The Hope Credit and The Lifetime Learning Credit.
Cabrini College cannot determine if you are eligible for either of these credits or the amount of credits for which you may qualify. Please consult your tax adviser or IRS Publication 970, Tax Benefits for Higher Education, for more information.
To determine the amounts of tuition and fees paid during the calendar year, please consult your records or go to your CabriniOne account.
The IRS offers free forms, publications, and other information at the local IRS office in your area. In addition, you may request forms and publications by contacting them through the telephone at 1-800-TAX-FORM (1-800-829-3676) or at www.irs.gov.
Cabrini students can elect to receive their Form 1098‑T electronically rather than via mail. To do so:
Students may also view their current and past years' 1098-T forms through their CabriniOne account online. To retrieve your tax information follow these instructions: