Tax Information
Tax benefits
There are several tax benefits that assist students and families in the financing of a college education. You may be eligible for one of two federal tax credit programs for tuition and fees. Alternatively, you may be eligible for a tax deduction.
Tax credits
These tax credits are based on enrollment, adjusted gross income, tuition paid and grants received.
- The American Opportunity Credit is available for the first four years of higher education. It allows taxpayers to claim a tax credit of up to $2,500 per eligible student for each year.
- The Lifetime Learning Credit is available for all years of higher education (undergraduate and graduate). The Lifetime Learning Credit allows taxpayers up to a maximum $2,000 tax credit per return.
More information about these tax credits can also be found on the IRS website's Education Credit page.
Tax deductions
- Eligible taxpayers can deduct qualified, limited educational expenses from adjusted gross income. The tuition deduction allows for a reduction of income subject to tax by up to $4,000.
- This deduction is subject to income restrictions and eligibility requirements, and may not be claimed in conjunction with the American Opportunity or Lifetime Learning tax credits.
Tax documents
By January 31 of each year, the following two tax statements for the previous year are mailed to students:
1098-T Tuition Statement
Northwestern University has partnered with Heartland 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 review the email sent to you and follow the instructions listed.
The 1098-T Tuition Statement is sent to each student who paid qualified tuition and related expenses during the previous year. It includes financial information, such as tuition charges, scholarships received and payments made, which you may need for either education credits or a tuition deduction on your federal tax returns.
Note: If you made no payments during the calendar year, you will not receive a 1098-T (for example, students who received scholarships and grants equal to or greater than the cost of tuition and fees).
Questions about the amounts reported on the 1098-T?
Contact Student Finance (student account inquiries) at studentaccounts-ev@northwestern.edu or 847-491-5224.
Questions about eligibility?
Please review the IRS flyer, Why Form 1098-T is Important to You, to become more familiar with the uses of the 1098-T form. Contact your tax preparer or financial adviser with questions concerning your eligibility for tuition tax credits or tax deductions. You may also review the IRS website or call their toll-free number (1-800-829-1040) for additional information.
Questions about viewing or reprinting your 1098-T tuition payments statement?
- Current students contact ECSI
- Guests navigate to ECSI
- Former students: Tax forms are mailed via the US Postal Service by January 31. Contact Student Finance (student account inquiries) at studentaccounts-ev@northwestern.edu or 847-491-5224 with any questions.
1098-E Student Loan Interest Statement
The 1098-E Student Loan Interest Statement is sent to each student who paid interest on student loans held by Northwestern University during the previous year.
You may be eligible to take a deduction on your federal income tax return for student loan interest you paid during the year. You do not have to itemize deductions to claim the student loan interest deduction. However, there are limits on how much interest you may deduct as well as limits on qualifying income levels.
Questions about the amount of interest paid reported on the 1098-E?
Contact Student Finance (student loan inquiries) at studentloans@northwestern.edu or 847-491-3125.
Questions about eligibility?
Please contact your tax preparer or financial advisor with questions concerning your eligibility for student loan interest deductions on your federal income tax return. You may also review the IRS web site or call their toll-free number (1-800-829-1040) for additional information.
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