Frequently Asked Questions
What is a 1098-T?
The 1098-T Tuition Statement is an IRS tax form that lists the amount of Qualified Tuition and Related Expenses (QTRE) that you paid during the calendar year. You may be able to deduct some or all of this amount from the income you report on your federal tax return. You should speak to your accountant or qualified tax professional for the most accurate information regarding the use of Form 1098-T.
NOTE: The 1098-T reports activity for the CALENDAR year and not the ACADEMIC year.
Why is Box 2 on the 1098-T blank?
In previous years, IRS Form 1098-T included a figure in Box 2 that represented Qualified Tuition and Related Expenses (QTRE) the University billed to the student account for the calendar (tax) year. Due to a change to institutional reporting requirement under federal law, beginning with tax year 2018, the University will report in Box 1 the amount of QTRE paid during the year.
Am I eligible for a tax credit?
Student Financial Services staff members are not tax professionals and cannot provide information regarding the use of Form 1098-T. You should speak to your accountant or qualified tax professional for the most accurate information.
How do I obtain a copy of my 1098-T?
If you are a current student you can obtain a copy of your 1098-T via the online Student Account Center accessible through AARC. If you no longer have access to AARC, please contact Student Financial Services via email at SFS@Simmons.edu or call 617-521-2001 to request a copy.
What if my address on the form is incorrect?
The address printed on the 1098-T is your current preferred address listed in our system of record. If it is incorrect or has recently changed, please login to AARC to update your address. If you no longer have access to AARC, please contact the Registrar to complete a change of address form. Once the updated address is on file a revised 1098-T with the correct address may be prepared. As long as the SSN/TIN and financial information on the form are correct, Simmons University is not required to submit change of address information to the IRS.
What if the dollar amount is incorrect?
If you feel that the 1098-T is incorrect please contact Student Financial Services immediately so that a staff member may review your record.
Do I need this form to file my taxes?
No, you do not need the form in order to file taxes.
NOTE: Additional information regarding Form 1098-T is included in IRS Publication 970. Students and parents are encouraged to consult IRS publications and the IRS website to obtain answers to 1098-T related questions. Student Financial Services staff members are not tax professionals and are not permitted to provide tax advice.
Please visit the IRS website for more information.
What if my SSN is incorrect?
If the SSN or TIN on your 1098-T is not correct please contact Student Financial Services immediately. You will be required to complete a W-9 so that Student Financial Service can proceed with correcting your record
What are federal Title IV funds?
Title IV funds are federal student aid funds, which are from federal student aid programs administered by the U.S. Department of Education. The U.S. Department of Education regulations only allow schools to use your Federal Student Aid to pay for current academic year institutional charges, unless you have granted permission to apply these funds to non-allowable charges as well. Federal Title IV funds do not include scholarships from the University or other private organizations.
Title IV funds include:
- Direct Subsidized/Unsubsidized Loans
- Direct Graduate PLUS Loans
- Direct Parent PLUS Loans
- Federal Pell Grants
- Federal Supplemental Educational Opportunity Grants (SEOGs)
- TEACH Grant
- Mandatory fees
Non-Allowable charges include:
- Student Health Insurance Plan
- Late Fees
- Returned Check Fees
- Book Advances
- Health Center Service Fees
- Other Miscellaneous Fees
I am not a Title IV aid recipient. Do I still have to sign?
Yes. All students are required to sign the Title IV Authorization. The Title IV Authorization is valid for the duration of your academic career at Simmons University and will apply should you become a Title IV aid recipient at any point. It can be canceled by emailing a written request to SFS@simmons.edu.
How are Title IV funds applied to my account?
The U.S. Department of Education requires that Title IV funds be applied to specific allowable charges. Allowable charges include: tuition, mandatory fees and residence charges billed by Simmons University. If your total Title IV funds exceed the total of these allowable charges, the University must refund that excess to you unless you give permission to do otherwise.
Why do I have an excess of Title IV funds?
Excess Title IV funds occur when the total amount of Title IV aid funds disbursed to your student account exceeds charges for tuition, mandatory fees and residence billed by the University.
What is the purpose of the Title IV authorization form?
Simmons University, in compliance with federal regulations, must obtain permission from the student or parent borrower to apply federal financial aid proceeds to pay for non-allowable charges related to a prior term, future term, or charges other than tuition, mandatory fees and residence. Without your authorization, Title IV funds cannot be applied to non-allowable charges. This may result in a refund being issued to you that creates a balance on your student account. You are responsible for paying that balance.
Does having an excess of Title IV funds mean that I have a credit balance on my student account?
Not necessarily. An excess of Title IV funds means that the amount of your federal financial aid exceeds the allowable charges (as defined above). You may have non-allowable charges such as the Student Health Insurance Plan charge that must be paid.
Will signing the authorization form help me?
Yes. By signing the form, any excess Title IV funds will be permitted to be applied to all non-allowable charges including a prior balance as well as any future non‐allowable charges during the loan period. Furthermore, signing the form will help prevent an “account hold” for unpaid charges, which would prohibit you from registering and enrolling for future semesters, obtaining grades/transcripts and receiving your diploma.
What if I don't grant the authorization?
If you do not grant authorization, your Title IV aid cannot be used to pay for charges other than current tuition, fees and residence and any excess aid will be refunded to you. Therefore, you may receive a refund and simultaneously be sent a bill for any charges that could not be paid with your Title IV aid. Receiving a refund does not indicate that there are no charges on your account.
Does the authorization form need to be signed each year?
No. The authorization remains in effect while you are a student at Simmons University. It may be rescinded by sending a written request to Student Financial Services via email. Please keep in mind that if you cancel the Title IV Authorization, you, the student, will become liable for all charges not covered by financial aid.
Where can I my sign the Title IV Authorization?
You can e-sign the Title IV Authorization by logging into connection.simmons.edu. Upon logging in you will see a notification on the main page that contains a link which will direct you to the form. Your authorization is voluntary. It is valid for the duration of your academic career at Simmons University and can be canceled at any time via email
Please contact Student Financial Services via email or by phone at 617-521-2001.