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Hope And Lifetime Learning Tax Credits
Important Information
(Tax Year 2007)

Shippensburg University Students:

Near the end of January 2008 you will receive an Internal Revenue Form 1098-T in the mail. The University is required to issue this form to each student who attended at any time during the 2007 calendar year. Retain this important form for income tax preparation purposes for 2007. If you do not receive a 1098-T form shortly after January 31, please visit www.ecsi.net to request a duplicate 1098-T. To request detailed information of amounts billed and paid, call the Students Accounts Office at 717-477-1669.

Federal Income Tax laws were amended for the 1998 year to allow a percentage of tuition payments to be used as credits against income taxes owed by you or whoever claims you as a dependent. These credits are known as the Hope and Lifetime Learning Tax Credits.

Due to changes in IRS regulations, the Form 1098-T must now include financial information not previously reported. The 1098-T provides part of the information you need to claim education tax benefits provided by the Hope Scholarship and Lifetime Learning Tax Credits. The Form 1098-T should be used along with the taxpayer’s own records of tuition and fee amounts paid to complete IRS Form 8863 to claim the tax credit.

This information is provided as required by the IRS and does not represent tax advice from the University. The taxpayer should refer to relevant IRS forms and publications or to their tax advisor and should not contact the University for explanations relating to eligibility requirements or calculations of any allowable education tax credit.

The IRS requires that the university must report either Amounts Billed in 2007 or Amounts Paid in 2007. Shippensburg University will be reporting Amounts Billed (Box 2). What is reported in Box 2 may represent an amount other than the amount actually paid by the student in 2007.

Due to Academic Years not corresponding to Tax Years, information on your 1098-T may be very confusing. Below are explanations of each box on the 1098-T to help clarify the financial data reported.

You should use this information, along with the IRS “Instructions to Students” (see back of 1098-T form) and advice from your tax preparer and IRS publications, to help you complete your tax returns.

To request a duplicate1098-T, visit ECSI’s website at www.ecsi.net/1098T