We’re rewarding the question askers & reputations are being recalculated! Read more.

Questions tagged [tuition]

The tag has no usage guidance.

Filter by
Sorted by
Tagged with
3
votes
2answers
246 views

How much of my $5K/yr tuition tax credit ought I transfer to my mom who earned $40K/yr?

From 2009-2015, I was studying in universities, and earned no income. My parents paid all my tuition. We all live in ON. I filed my taxes, but didn't know about claiming tuition tax credits. I would'...
46
votes
25answers
21k views

My parents claim they cannot pay for my college education; what are my options?

I have divorced parents, one makes a lot more money than the other, but that one (who makes more money) claims due to court rulings he pays a lot of money to the other parent and that they are wasting ...
26
votes
9answers
9k views

3.5% Interest Student Loan or use all of my savings on Tuition?

I've got one year of University left and luckily I've managed to stash around ~$18k in savings that my expenses never cut into. My tuition for my last year will probably be around $13k. I hate the ...
3
votes
2answers
326 views

Federal Aid and Tuition Reimbursement at work

My situation is the following: my wife and I are adults who are trying to complete our first bachelor degrees respectively (we started our degrees and dropped out years ago) so far, we both have been ...
3
votes
1answer
91 views

Do I not qualify for any education tax breaks?

I'm planning on going back to school for a graduate degree. Looking at the different tax breaks I could find related to education: The American Opportunity tax credit: This is not an undergraduate ...
1
vote
1answer
97 views

Payment of tuition in reference to gift tax

I am looking to make a career change from a software engineer to become a commercial pilot. Becoming a pilot requires a lot of specialized training and therefore is very expensive. A few years ago my ...
1
vote
0answers
42 views

Avoid wasting Canadian tuition credit with double taxation on Canadian Income in US

I live in US with income in Canada and have a large amount of unused tuition tax credits in Canada. My understanding is that when doing US Tax I should report my full Canadian income and the amount ...
1
vote
1answer
120 views

Graduate School Tuition

I thinking about helping a family friend by paying his law school tuition and maybe give him a stipend for books and living expenses. Do I need to create a scholarship or grant to do this or can I ...
3
votes
2answers
723 views

529 plan distributions, taxes, and the 1099-Q

Our oldest kid started college this fall. We have a 529 plan with her as the beneficiary. We took $9400 out of the account this fall to pay for her tuition. There isn't anything to tax because the ...
1
vote
1answer
105 views

Do I lose potential tax benefits by using my employer's tuition assistance program?

Let's say I plan on attending graduate school part-time and that I am currently employed full-time at a company that offers full tuition reimbursement for graduate school with the catch that I must ...
3
votes
0answers
64 views

Can I take a Tuition and Fees Deduction when receiving third party assistance?

My wife and I took the Tuition and Fees Deduction in 2015 after receiving a 1098-T from her accredited University that had box 2 (Amounts billed for qualified tuition and related expenses) as $5603.80....
4
votes
2answers
432 views

Paying someone's college tuition to avoid gift taxes: how do I show the payment is applied to tuition, not other fees?

According to Section 2503 of the Internal Revenue Code of 1986, a payment made directly to an educational institution to pay for the tuition of a student does not count as a gift to the student for ...
0
votes
1answer
82 views

How to hold value for borrowed cash used to fund school tuition

I need to pay for the tuition for a 2-year graduate school program. Since I don't have to, and can't, pay tuition of 2 years in advance, but need to pay interest, I want hold the value of my ...
2
votes
1answer
1k views

Unpaid College Tuition - Does Statute of Limitations Apply?

I have over $10K in outstanding debt to my old college. Due to an issue with my parents' tax return my final year of attending, my FAFSA was invalidated, and all financial aid (loans, grants, and ...
6
votes
1answer
120 views

Scholarship Tuition Reimbursment

I recently received a military scholarship which covers all of my tuition and housing at my university. The military will be back-paying the costs, so the university will send a check that reimburses ...
1
vote
1answer
94 views

Do I report 1098-T's box 2 (Amount billed for tuition) amount if I have not paid to it?

I am very confused on this one. In regards to Education Credit Expenses, do I enter box 2 (Amounts billed for qualified tuition and related expense) of form 1098-T if I have not paid on the billed ...
1
vote
1answer
435 views

Can you claim a training course in Canada if you are provided a receipt but not a T2202A form?

I completed a 200h Yoga Teacher Training course in Canada but noticed that most yoga schools are not HRSDC certified providers, so am wondering if tuition tax credits can still be claimed?
1
vote
0answers
42 views

Do part-time courses count as tuition for tax purposes for a work permit holder?

My wife is not a Canadian citizen. As her permanent residence application is in process, she has been given a 2-year open work permit, and she used it to work during the 2016 tax year. Her conditions ...
2
votes
1answer
142 views

Applying student loan proceeds toward tuition?

Background: I have been granted a student loan of a few thousand Canadian dollars and accepted into full-time, first-year, first-semester university. I have received a few scholarships which covers ...
2
votes
1answer
148 views

As a parent of a high school student, what should my short-term cash policy be to optimize my college costs?

My daughter will be applying to colleges in 1 year. Where should I keep my money to optimize my college financial aid eligibility? (parent-plus loans? something else?) E.g., should I keep as much as ...
1
vote
1answer
1k views

How are taxes calculated on tuition reimbursement above $5250?

My employer has a tuition reimbursement program and I exceeded the $5250 tax exemption limit for the year. How are taxes calculated for this benefit? The reason I ask is that my employer is ...
5
votes
3answers
1k views

Giving kids annual tax free gift of $28,000

We are planning to pay for kids' education using the annual $28,000 limit of tax free gift. Do we have to send money from each parent's single bank account? If, for instance, I send $28,000 from my ...
1
vote
1answer
4k views

Do I have to file for tax if I don't work at all but just received 1098-T form from my college?

I don't work at all right now. So I thought I wouldn't have to pay for taxes. But then I got this 1098-T form from my college a month ago. So now I'm confused. Can I/Do I still have to file for tax ...
2
votes
1answer
400 views

Accepting money for college tuition from US citizen

I am a student in the US on a F-1 visa. Can I accept money which will go towards my university tuition from a US citizen? I have a college checking account here and I don't know if I can accept ...
2
votes
1answer
116 views

Receive Multiple Grants?

Is it possible to receive multiple grants? I was approved for a TAP grant. But is it possible to also get a Pell grant, FSEOG grant, LEAP?
9
votes
2answers
3k views

When does it make financial sense to take advantage of employer's tuition reimbursement program?

Many companies offer tuition reimbursement programs. On the surface, these programs are such that qualified employees can enroll in undergraduate / advanced degree programs (or even take individual ...
5
votes
1answer
438 views

Can Professional Certifications be written off in taxes?

I am currently enrolled in courses outside of school that are for IT certifications. Question: Can the tuition and the certification vouchers be written off? If so, what is the best way to go about ...
2
votes
1answer
77 views

Keep in state tuition when relocating to another state

My wife and I have lived in NC state for more than 10 years. I enrolled in an online program in the state university for continuing education one year ago. And eventually I will get a degree in 3 or 4 ...
6
votes
1answer
1k views

Is tuition reimbursement considered taxable, earned income?

I am a student paying tuition to attend a University. I worked in a lab, so I received a "reimbursement" on my tuition (that is how the University denoted the compensation). Does this "reimbursement" ...
0
votes
2answers
44k views

Does 1098-T need to be filed by student?

I am filing my taxes via TaxAct, and I am not sure whether my 1098-T Copy B (for students) needs to be reported. On my Copy B it states "This is important tax information and is being furnished to the ...
3
votes
2answers
293 views

Can I claim my daughter as a dependent on my 2014 tax return even though she got married in August?

Can I claim my daughter as a dependent on my 2014 tax return even though she got married in August? She did not live at home but was a full-time student for at least 5 months out of the year, and we ...
1
vote
1answer
115 views

Can one earn money from Lifetime Learning Credit if one does not pay income tax?

I am an independent student with no taxable income. When I file taxes, I do not need to pay any income tax and get no refund. Some students told me that I can get up to 20% of my tuition fees refunded ...
2
votes
1answer
328 views

Can Ontario university students apply for the “30% off Tuition” or any other significant grant offered by OSAP if they attend school outside Ontario?

My daughter is on her way to Dalhousie this fall. I'm almost certain I read (a few months back) that she was eligible for the Ontario 30% but now it appears as if she is not (maybe I originally mis-...
0
votes
0answers
50 views

Tuition related repayment deduction [duplicate]

My issue is similar to Tax treatment of repaid tuition after employment termination but I have not enough reputation to comment there. Megacorp paid my tuition. They made the payment directly to ...
3
votes
2answers
430 views

UK university student finance - should I use my sponsorship money to pay the debt?

I am in the fortunate situation of having both an unconditional offer for a (UK) university I really want to go to, and a sponsorship offer from the company that I have worked for in my gap year, in ...
0
votes
1answer
529 views

Can I claim a tax deduction for college tuition paid but was then reimbursed by my company?

I paid the college tuition for my kid with my credit card and I have received the corresponding form for the tax deduction from the college. However, my employer has the benefit to cover the fee. In ...
2
votes
1answer
519 views

As a Canadian citizen working in US, can I claim my Canadian university tuition tax credit in US?

I'm a Canadian citizen and started working in US on TN visa since November 2013. I have a fairly large amount of tuition credits from my graduate studies in Canada. Now, that I have my first job (...
4
votes
1answer
242 views

What legal actions should I take to get tuition fees refunded after the school went bankrupt?

I applied to the Northern School of Languages in Leeds and my student visitor visa was refused. But the school has gone bankrupt, and the financial case is now handled by the Ferguson Company Ltd. on ...
3
votes
2answers
79 views

financial statement

i'm a student and in my academic financial statement there is the money which i am supposed to pay for the registration and modules fees on the debit side, which is less than the one on the credit ...
3
votes
1answer
7k views

Tax deduction helping a friend pay tuition

I'm helping a friend pay for tuition. On my taxes, will I be able to make any deductions or get any money back when I file my taxes? This is in the US.
3
votes
2answers
5k views

How do I claim my reimbursed tuition on my taxes?

I got a 1098-T from my school for 2011. I pay the amount but at the end of the semester my company reimburses me. All classes have been marked as Job Related. Can I use use this amount in my favor ...
2
votes
1answer
1k views

Can BC university tuition tax credits only be applied to income earned in BC?

I completed my undergrad in BC, and I have since moved to Ontario. I have collected tuition tax credits in both provinces, so regardless of where I end up working, I will have tax credits from a ...
5
votes
3answers
285 views

Which payment plan is better to pay for tuition?

My kids go to a private school that's attached to a religious congregation. As far as paying tuition, they offered me a choice between these 2 deals: $1296 per month (for 12 months). $1156 per month ...
5
votes
1answer
415 views

Can I roll a College 529 education savings plan into a prepaid tuition plan?

I currently have college savings in a 529 plan (New Hampshire). Recently, Texas started the Texas Tuition Promise Fund which is a prepaid college savings plan. I would like to roll the money I have ...
3
votes
1answer
974 views

In Canada, can tuition paid by an RESP withdrawal be claimed on the income tax return?

Can tuition fees be claimed on the tax return if the money was withdrawn from an RESP we've been contributing to?
6
votes
2answers
198 views

Tuition Fees - Are British students who have already started their course affected by the recent vote to increase tuition fees?

I've read that students who are already at university and will not be affected by the changes in tuition fees, which have been voted in today in Britain. However, given the very deceptive wording in ...
1
vote
1answer
5k views

Is the HST going to affect college or university tuition fees? Can I pay early to avoid it?

I have been looking and can't find any info on whether HST is applied to college / university tuition. If so, can I pay by the end of June to avoid it?
5
votes
2answers
196 views

Thinking of doing an MBA: Is an $80K top MBA school better than a $24K online MBA school?

Would I be better off with Rotman, Richard Ivey, Queens, etc. or an online MBA school such as Fredericton?
8
votes
2answers
275 views

How much is college / university projected to cost in the U.S. in 18 years?

[Moderator note: A similar question was recently asked with respect to Canada. This is an important enough question warranting treatment for the U.S. as well.] How much is college / university ...
9
votes
4answers
3k views

How much is university projected to cost in Canada in 18 years?

I don't know how much I should put into an RESP for my son. I have $1000 to start and plan to put $100 / month into it. Will this be enough to pay for university when he turns 18?