HOPE SCHOLARSHIP TAX CREDIT
LIFETIME LEARNING TAX CREDITS

The Taxpayer Relief Act of 1997 created two new Federal income tax credits for eligible taxpayers paying qualified tuition and related expenses. Both the HOPE CREDIT and the LIFETIME LEARNING CREDIT are claimed on a student's or parent's personal individual income tax Form 1040. More detailed information and instructions can be found on IRS Form 8863 (Education Credits) and Publication 970 (Tax Benefits for Higher Education), which are available at the IRS website http://www.irs.gov. Additional information can also be found at the website of the National Association of College and University Business Officers at http://www.nacubo.org.

Under the provisions of this law, William Paterson University is required to report to students and to the Internal Revenue Service certain information on a Form 1098-T Tuition Statement (see information). Copy B of the Form 1098-T was mailed to the permanent home address of all eligible students on January 31, 2008. You can review your account transactions at http://wpconnect.wpunj.edu : click on the Student Services tab > Student Records > 1098-T information.