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Tax Information
TUITION
STATEMENT (1098-T):
At
the end of each tax year, Cal Poly is required to furnish a 1098-t
form, also known as a Tuition Statement, to each student who was
enrolled during that respective tax year and whose total tuition
and qualified expenses exceed scholarships and
grants (this means that if your grants and/or scholarships totaled
more than your tuition fees (also called registration fees), you
will not get a 1098-T).
The 1098-T is available by January 31 of the new year. It is mailed
to the student's mailing address, as well as being available for download from the Cal Poly portal. The data on the
form is also reported to the IRS, also required.
-
Each campus has the option of reporting either payments made for
tuition and qualified expenses (Box 1) or amounts
billed for tuition and qualified expenses (Box 2). Cal Poly has
chosen to report amounts billed. Therefore, Box 1 will always
be blank.
- The
total in Box 2 may be an odd amount (includes cents) because the
health service fee portion of registration fees is not a qualified
charge, and therefore, is not included in the Box 2 total.
- Please
refer to the INSTRUCTIONS FOR STUDENT section of the 1098-T form
for more information, or refer to the following site:
Parent
and Student Guide to Federal Tax Benefits for Tuition and Fees
- The 1098-T may be downloaded from the My.CalPoly portal. Simply click the Money Matters tab and look for the Student Center link under the Student Accounts & Payment Info column.
IN THE STUDENT CENTER (FINANCE SECTION):
1098T Detail Inquiry link - a downloadable 1098-T tax statement.
REMINDER: if your grants and/or scholarships totaled more than your tuition fees (also called registration fees), there will be no 1098-T information to download.
1098T Print Option Inquiry link - Because the 1098-T statement contains sensitive information, Cal Poly is now offering its students the option of NOT having the information mailed. If you would prefer downloading your 1098-T information through your secured portal access, please access the Print Option Inquiry link and choose the electronic access option - then SAVE your update.
STUDENT
LOANS (INTEREST PAID):
As
per the Taxpayer Relief Act (TRA), student loan lenders must provide
interest paid information to their loan borrowers annually.
- FEDERAL
PERKINS AND INSTITUTIONAL STUDENT LOANS:
Cal Poly is the loan lender
for these loan types. As such, we have contracted with a billing
service, ECSI, to provide our borrowers with the required annual
interest paid information, as well as repayment management services.
- Any
borrower that paid interest on their Cal Poly student loan
in the designated tax year will receive interest paid information
on their February, March, or April ECSI-generated billing statement. You may obtain a copy of your billing statement by accessing the ECSI web site: www.ECSI.net , or you may call ECSI for the information: (888) 549-3274.
- FEDERAL
STAFFORD (SUB/UNSUB);PARENT (PLUS); ALTERNATIVE; AND ALL OTHER
LOAN TYPES WITH A LENDER OTHER THAN CAL POLY:
Please
contact your loan lender(s) for your annual interest paid information.
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