Education Tax Credit Benefits


A full explanation of education tax benefits can be found in the IRS Publication 970, Tax Benefits for Higher Education, which is available on the IRS web site [pdf] or by calling 1-800-829-3676 (1-800-TAX-FORM).

As a post-secondary educational institution that receives qualified tuition and related expense payments, Bowdoin provides enrolled students with an IRS Form 1098-T by January 31 for the previous tax year, reflecting the following information:

  • Name, address, and Social Security Number of the student
  • Name, address, contact telephone number, and federal tax ID of the College
  • Box 2 - Amount of qualified tuition and related expenses billed by the College for the fall semester of the relevant tax year and the spring semester that begins in January of the following tax year
  • Box 4 - Adjustments (decreases) to amount reported in Box 2 in a previous year
  • Box 5 - Amount of scholarships and grants administered and processed by the College for the fall semester of the relevant tax year and the spring semester that begins in January of the following tax year
  • Box 6 - Adjustments (decreases) to amount reported in Box 5 in a previous year
  • Box 7 - The box is checked if the amount in Box 2 includes amounts for an academic period that begins January-March of the following tax year
  • Box 8 - The box is checked if the student attended Bowdoin College at least half time during the year

Graduating Seniors:  The spring semester of the senior year is included on the 1098-T sent in January of the senior year.

Whether a taxpayer may take advantage of these benefits depends on a taxpayer's individual facts and circumstances.

Bowdoin College cannot provide legal or tax advice.  Please refer to IRS Publication 970 or consult a personal tax advisor.