Financial Aid Services Center

Tax Benefits

When considering the cost of higher education and the resources available to meet the cost, take into account the tax-related benefits available to you. Benefits include tax credits and tax deductions including the American Opportunity Tax Credit, the Lifetime Learning Credit, Tuition and Fees Deduction, and the Student Loan Interest Deduction. See IRS Publication 970 for details and eligibility criteria for credits and deductions.

Students will receive an IRS Form 1098-T from Western’s Student Business Office each January showing tuition and other related information to help you determine whether you are eligible for federal tax credits or deductions.

Check with the IRS or a tax advisor for additional information or if you have questions about tax benefits related to educational expenses.