University of California, Riverside

Student Business Services



Education Tax Benefits


The Taxpayer Relief Act of 1997, signed on August 5, 1997, could provide you an opportunity for tax benefits. The Taxpayer Relief Act of 1997 provides for three different educational tax benefits that are designed to help students and their parents meet their educational objectives. For more information on these tax benefits, please see IRS Publication 970 at www.irs.gov.

Hope Tax Credit

A Hope tax credit can be claimed for each student in a family who is enrolled in higher education at least half-time in an eligible educational institution and who has not yet completed his or her first two years of study. (This will include students in most two-year and four-year colleges.) Students financing their own education and who are not claimed as dependents on their parent's tax return, or adults who claim students as dependents, can claim a tax credit for tuition expenses and required fees.
By January 31st, the University will provide you with a statement of the qualified fees you paid during the previous tax year. This form is called a 1098-T and will be provided to you by the UC Education Tax Credit Service Provider. This is the form you would file with your tax return for the Hope tax credit. For more information on your 1098-T form, please contact the UC Education Tax Credit Service Provider at www.1098T.com or by phone at 1-877-HOPE821 (1-877-467-3821).
For more information on the Hope Tax Credit, please see IRS Publication 970 at www.irs.gov.

Lifetime Learning Tax Credit

This tax credit is available for vocational, college, graduate, and professional-school students, and adults who want to upgrade their job skills or acquire new ones or pursue another course of study. It's even available for a student taking just one course as long as it is job-related. There is no limit on the number of years an individual may claim the Lifetime Learning tax credit.
By January 31st, the University will provide you with a statement of the qualified fees you paid during the prevous tax year. This form is called a 1098-T and will be provided to you by the UC Education Tax Credit Service Provider. This is the form you would file with your tax return for the Lifetime Learning tax credit. For more information on your 1098-T form, please contact the UC Education Tax Credit Service Provider at www.1098T.com or by phone at 1-877-HOPE821 (1-877-467-3821).
For more information on the Lifetime Learning Tax Credit, please see IRS Publication 970 at www.irs.gov.

Student Loan Interest Deduction

Borrowers who are in their first 60 months of repayment, minus any periods of deferment or forbearance, and have paid any amount of interest on their qualified educational loan between January 1, 1998 and December 31, 1998 for the 1998 tax year are eligible for the deduction.
Before January 31st, the University will provide you with a statement of interest you paid during the previous tax year on your Perkins or University loan. This form is called a 1098-E and will be provided to you from Affiliated Computer Services (ACS). This is the form you would file with your tax return for the Student Loan Interest Deduction. For information on your 1098-E form, please contact ACS at www.acs-education.com or by phone at 1-866-575-4517.
For more information on the Student Loan Interest Deduction, please see IRS Publication 970 at www.irs.gov.

**NOTE: Students and their families who believe that the Hope Tax Credit, Lifetime Learning Tax Credit, and/or Student Loan Interest Deduction provisions of the Taxpayer Relief Act of 1997 may apply to them should consult a professional tax advisor or the Internal Revenue Service at 1-800-829-1040 or www.irs.gov. The employees of the University of California, Riverside are not professional tax consultants. The information provided on this web site is intended only to notify students and their families of selected provisions of the Taxpayer Relief Act of 1997. The circumstances of each potential beneficiary of the Taxpayer Relief Act of 1997 may vary. Please consult a tax professional for advice regarding the effects that this legislation may have upon your tax liability.

More Information 

General Campus Information

University of California, Riverside
900 University Ave.
Riverside, CA 92521
Tel: (951) 827-1012

Contact Information

Student Business Services
900 University Avenue

Tel: (951) 827-3204
Fax: (951) 827-3576
E-mail: sbsofc@ucr.edu

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