General Information

This special bulletin is drafted to inform you of the higher education tax incentive recently enacted by the Taxpayer Relief Act of 1997, which provides tax credits for qualified educational expenses. We encourage you to seek professional advice with a tax accountant regarding your particular situation. Questions concerning these tax credits may be directed to the IRS Office of Public Liaison at your local area. More indepth information are available at the following websites:



Beginning January 1, 1998, taxpayers may be eligible to claim a non-refundable Hope Scholarship Credit against their federal income taxes. The Hope Scholarship may be claimed only for qualified tuition and expenses that a student is "required to pay" to attend an eligible institution and must be directly related to a course of study. Therefore, expenses associated with student activities, insurance, athletics (unless it is part of the degree program), room and board, etc., are not allowed.

At this point, the following eligibility requirements and information as we understand it:

The first time taxpayers will be able to claim the credit is in 1999 when they file their 1998 tax returns, since the Hope Scholarship Tax Credit is applicable for fees or tuition paid beginning January 1, 1998.

Students whose fee payment priority due date is in the month of December 1997 may opt to apply for an installment payment plan. For further information or to arrange a special installment payment, please contact the Bursar's Office at (415) 338-1281.