Tax Information for Students

Form 1098-T Tuition Statements

The Internal Revenue Service requires that Mitchell Community College report qualified tuition and expenses and scholarships and grants invoiced or posted to all degree-seeking students’ accounts on Form 1098-T.  The 1098-T is an information return that assists students in computing certain education tax credits or deductions for which they may be eligible when they file annual income tax returns.

For tax information, visit the IRS Publication 970 where detailed information is provided about tax benefits for education. For additional information and guidance, contact your professional tax preparer.  

Students have instant access to their Form 1098-T Tuition Statement. By providing consent to receive your 1098-T Tuition Statement electronically, you will be able to access and print your 1098-T as soon as it is available and will no longer receive the form in the mail.

Students who would like electronic delivery and instant online access to the 1098-T statement should log in to Self-Service and provide consent using the 1098 Electronic Consent option. This is within the Tax Information tab on the home page.

The College will mail Form 1098-T no later than Jan. 31 to students who do not consent to receive Form 1098-T electronically.

Collection of Social Security Numbers

Mitchell Community College is required to collect a Social Security Number (SSN) or Taxpayer Identification Number (TIN) from all degree-seeking students in accordance with Internal Revenue Service (IRS) regulation §1.6050S-1(e). The IRS also requires the College to notify all degree-seeking students that if they choose not to disclose their SSN or TIN, they may be subject to a $100 penalty imposed on them by Internal Revenue Service.  Additional information regarding the IRS requirements may be found under IRS 1098-T Tax Forms.

Students are asked to supply their SSN or TIN to the College accurately on the application for admission and include their legal name as it appears on their Social Security Card or Taxpayer Identification.  If you discover the SSN or TIN the College has on file is not correct, notify the Registrar's Office.  

Frequently Asked Questions about Form 1098-T