Bursar

Non Registration Activities

The Bursar’s Office is also responsible for the following two areas:  issuance of 1098T tax forms and Return to Title IV (R2T4) calculations.

 

 

About 1098-T Tax Form

1098T forms are issued to all students who make payments of their tuition and fees for the period 1/1 to 12/31 for current year’s tuition and fees.  Payments made in December for the following Spring term are also included.  Payments made for prior periods are NOT included on the current year 1098T.  1098T forms are issued only when you have paid an amount in excess of grant funds.  For example, if your tuition and fees for the year are $5,000.00 and you received grants (TAP, PELL, etc.) of $2.500.00, your 1098T would reflect both of those amounts.  However, if your tuition and fees for the year are $5,000.00 and your grants were $7,500.00, you do not qualify for the tax credit and a 1098T form would not be issued to you. 

Special note for international students:  IRS regulations prohibit the issuance of 1098T with ‘dummy’ social security numbers.  If you do not have a social security number or taxpayer identification number, your 1098T will have a blank in the social security number field. 

IMPORTANT NOTE:  YOUR 1098T FORM WILL BE MAILED TO THE LAST ADDRESS ON OUR FILES.  TO ENSURE THAT YOU RECEIVE YOUR 1098T FORM IN A TIMELY MANNER, PLEASE UPDATE YOUR ADDRESS WITH THE REGISTRAR’S OFFICE.

 

Return of Title IV Funds:

If you receive federal Title IV aid (PELL, SEOG, Federal Direct Loans, etc) and withdraw from or stop attending all of your classes, the college is required to recalculate the amount of aid you are eligible to receive.  This is called an R2T4 calculation and the percentage of aid earned is based on the number of days you actually attended during the semester.  An R2T4 calculation may result in the college having to return funds to one or more Title IV programs on your behalf.  If that happens, your tuition account will be charged for the amount of money returned and you will be billed for it.  If you earned more aid than was disbursed to you, a post-withdrawal disbursement will be issued to you.