Student Accounts: Frequently Asked Questions

Billing Statements
  When are tuition billing statements available?
  When are student tuition billing statements due?
  Can a student allow others to access the billing statement?
  What is the student ID# or account number?

Payments
  How can I pay the bill and what types of payments are accepted?
  Do you accept payment plans?
  How can I make an international payment to Amherst College to pay my student account?
  How do I communicate to Amherst College that funds are coming from a third party source that are NOT posted
   as a PENDING credit on my account statement?
  How can I verify that a payment has been received?

Other
  Do you offer tuition insurance?
  What if I have questions about health insurance tax forms?
  How do I waive the health insurance fee?
  How can I request a refund from the credit balance on my student account?
  How do I make a deposit to a student’s AC Dollar$ account?
  How can I contact the Student Accounts Office?

Form 1098-T
• 
What is Form 1098-T?
•  Who is issued a Form 1098-T?
•  When will I receive Form 1098-T?
•  Can I receive my Form 1098-T electronically?
•  How do I print a copy of my Form 1098-T? 
•  I am a parent and need a copy of my student's Form 1098-T. How do I obtain one?
•  What is QTRE?
•  What does each box represent on my Form 1098-T?
•  What payments will be reported in Box 1?
•  Why is Box 2 empty when in previous years it was not?
•  Do I need to report my scholarships as taxable income?
•  How can I get an itemized listing of the financial activity that is on my Form 1098-T?
•  Did you send a copy of the Form 1098-T to the IRS?
•  What if my SSN/ITIN is blank or incorrect on my Form 1098-T
•  My address listed on my Form 1098-T has changed. Will this affect me?
•  How do I obtain a correct Form 1098-T?
•  How do I know if I'm eligible for a tax credit or tax deduction?

 


 

Billing Statements

•  When are tuition billing statements available?

Billing statement availability is noted on the Student Accounts homepage, linked here:
https://www.amherst.edu/offices/controller/student-accounts.

 

•  When are student tuition billing statements due?

Deadlines for tuition billing statements are noted on the Student Accounts homepage, linked here: https://www.amherst.edu/offices/controller/student-accounts.

 

•  Can a student allow others to access the billing statement?

Yes, students can desginate family and friends to access their billing statements by following the instructions linked here:
https://www.amherst.edu/offices/controller/student-accounts/billing-statement-access#DesignateFF.

 

  What is the student ID# or account number?

This number can be located on the top right-hand side of the account statement on AC Data: https://acdata.amherst.edu.

 

Payments


  How can I pay the bill and what types of payments are accepted?

For complete instructions on how to pay your bill and details on the different types of payments accepted, please visit https://www.amherst.edu/offices/controller/student-accounts/payment-options.

 

  Do you accept payment plans?

For those who desire a monthly payment plan, arrangements can be made directly with Tuition Management Systems (TMS).  Please visit
https://www.amherst.edu/offices/controller/student-accounts/payment-options#paymentplan for details.

 

  How can I make an international payment to Amherst College to pay my student
   account?

International students may pay via a wire transfer process. Amherst College has partnered with flywire by peerTransfer to streamline the bill payment process for international students.  For details, please go to https://www.amherst.edu/offices/controller/student-accounts/payment-options#international.

 

  How do I communicate to Amherst College that funds are coming from a third party
   source that are NOT posted as a PENDING credit on my account statement?

Follow the instructions linked here:
https://www.amherst.edu/offices/controller/student-accounts/payment-options#thirdparty.

 

•  How can I verify that a payment has been received?

If your payment has been received and posted by the Student Accounts Office, you can view your updated balance on AC Data.  Online payments are not posted in real-time.  These payments should post by the end of the next business day after payment transaction is made.  Your most recent account balance can be viewed at https://acdata.amherst.edu.

 

Other

  Do you offer tuition insurance?

Yes - full details can be found on our website here:
https://www.amherst.edu/offices/controller/student-accounts/tuition-insurance.

 
  What if I have questions about health insurance tax forms?

To find answers to many common questions about health insurance tax forms, please visit https://www.amherst.edu/mm/481421#taxfaq.

 

  How do I waive the health insurance fee?

Please follow the instructions linked here to waive the health insurance fee:
https://www.amherst.edu/offices/controller/student-accounts/semester-billing-fee-details#health.

 

  How can I request a refund from the credit balance on my student account?

Follow the instructions linked here:
https://www.amherst.edu/offices/controller/student-accounts/refund-of-credit-on-account.

 
  How do I make a deposit to a student’s AC Dollar$ account?

To make a deposit to a student's AC Dollar$ account, follow the instructions linked here:
https://www.amherst.edu/offices/it/services/card-services/acdollars/deposits
.

 
  How can I contact the Student Accounts Office?

To contact our office, please reference the contact information linked here:
https://www.amherst.edu/offices/controller/student-accounts#contact
.




Form 1098-T Frequently Asked Questions

NEW: Change to IRS Reporting Requirements

Beginning in tax (calendar) year 2018, all eligible education institutions are required by the IRS to report Payments Received for Qualified Tuition and Related Expenses (QTRE) in Box 1 up to the cost of QTRE. Box 1 may also include payments for past-due QTRE for a previous calendar year that were billed to you.  Amounts Billed, Box 2, is now blank on the Form 1098-T. Scholarships & Grants are still reported in Box 5.

Prior to calendar year 2018, consistent with IRS regulations, Amherst College (the College) had the option to include information in Box 1, Payments Received for QTRE or Box 2, Amounts Billed for QTRE – but never both. Consistent with most institutions, Amherst College had elected to complete Box 2 for calendar years 2017 and prior.

*For purposes below, an Eligible Student is a student who attended the College in tax (calendar) year 2018, paid QTRE received by the College in tax year 2018, and is a U.S. resident. 


•  What is the IRS Form 1098-T?

Form 1098-T, Tuition Statement, is an IRS tax form filed by eligible education institutions to report payments received from students. The College must issue a form to every Eligible Student* as defined above and at the end of this document.


•  Who is issued Form 1098-T?

The College must issue Form 1098-T directly to any eligible student even if QTRE is paid by someone else, including parents.


•  When will I receive my Form 1098-T?

Form 1098-T is available electronically by the end of day on January 31 through AC Data. Students will receive an email notification when available.  For students that do not elect to receive Form 1098-T electronically, paper forms are mailed by January 31 to the permanent address on file.


•  Can I receive my Form 1098-T electronically?

Students can access their Form 1098-T on AC Data. To access the form, log into AC Data and select the Students Menu. Next, under Financial Information select Tax Information. Both current and prior year forms (when applicable) are available.  Please note only students have access to this form in AC Data.

To consent to electronic receipt, log into AC Data, select Students Menu. Next, under Financial Information select Tax Information. Next, select the 1098-T tab and choose the first option.


•  How do I print a copy of my Form 1098-T?

Log into AC Data  and select the Students Menu. Next, under Financial Information, select Tax Information where the Form 1098-T pdf is available. Please note only students have access to this form in AC Data.


•  I am a parent and need a copy of my student’s Form 1098-T.  How do I obtain one?

Parents must request this form from their student. The College is unable to provide this document to anyone except the student.


• What is QTRE?

QTRE includes:

  • Tuition and Student Activities Fee

 QTRE excludes:

  • Room and board, insurance, medical expenses (including student health fees),  and various fees and charges

•  What does each box represent on my Form 1098-T?

Below is a brief explanation of the forms contents primarily from the IRS instructions:

Box 1. Shows the total payments received by an eligible educational institution in 2018 from any source for qualified tuition and related expenses less any reimbursements or refunds made during 2018 that relate to those payments received during 2018.

Box 2. Reserved. (In prior year represented the amount billed for QTRE – blank for the 2018 tax year)

Box 3. Shows whether your educational institution changed its reporting method for 2018. It has changed its method of reporting if the method (payments received) used for 2018 is different than the reporting method (amounts billed) for 2017. You should be aware of this change in figuring your education credits.

Box 4. Shows any adjustment made by an eligible educational institution for a prior year for qualified tuition and related expenses that were reported on a prior year Form 1098-T. (Blank for the College for the 2018 tax year)

Box 5. Shows the total of all scholarships or grants administered and processed by the eligible educational institution. The amount of scholarships or grants for the calendar year (including those not reported by the institution) may reduce the amount of the education credit you claim for the year.

TIP: You may be able to increase the combined value of an education credit and certain educational assistance (including Pell Grants) if the student includes some or all of the educational assistance in income in the year it is received. For details, see Pub. 970.

Box 6. Shows adjustments to scholarships or grants for a prior year. This amount may affect the amount of any allowable tuition and fees deduction or education credit that you claimed for the prior year. You may have to file an amended income tax return (Form 1040X) for the prior year.

Box 7. Shows whether the amount in box 1 includes amounts for an academic period beginning January–March 2019. See Pub. 970 for how to report these amounts.

Box 8. Shows whether you are considered to be carrying at least one-half the normal full-time workload for your course of study at the reporting institution.

Box 9. Shows whether you are considered to be enrolled in a program leading to a graduate degree, graduate-level certificate, or other recognized graduate-level educational credential. (Blank for the College)

Box 10. Shows the total amount of reimbursements or refunds of qualified tuition and related expenses made by an insurer. The amount of reimbursements or refunds for the calendar year may reduce the amount of any education credit you can claim for the year (may result in an increase in tax liability for the year of the refund). (Blank for the College)

Future developments. For the latest information about developments related to Form 1098-T and its instructions, such as legislation enacted after they were published, go to www.irs.gov/Form1098T.


•  What payments will be reported in Box 1?
  • Cash, check, credit & debit card payments (includes monthly payment plans through TMS)
  • Loans (direct subsidized & unsubsidized, private, & Parent PLUS) 
  • Wire & third-party payments 
  • Scholarships & Grants

•  Why is Box 2 empty when in previous years it was not?

Beginning in tax year 2018, all eligible education institutions are required by the IRS to report Payments Received for QTRE (Box 1) up to the cost of QTRE.  Prior to tax year 2018, consistent with IRS regulations, the College had the option to include information in Box 1, Payments Received for QTRE or Box 2, Amounts Billed for QTRE – but never both. Consistent with most institutions, the College had elected to complete Box 2 for tax years 2017 and prior.


•  Do I need to report my scholarships as taxable income?

The College does not provide personal tax advice. Please refer to the IRS Website for more information on scholarships, grants and fellowships.


•  How can I get an itemized listing of the financial activity that is on my Form 1098-T?

Account statements are available online by logging into AC Data; select Student Menu. Next, under Financial Information select Student Account Statement.


•  Did you send a copy of the Form 1098-T to the IRS?

Yes, the College is an eligible educational institution and is required by law to file Form 1098-T with the IRS.


•  What if my SSN/ITIN is blank or incorrect on my Form 1098-T ?

This represents the last four digits of the SSN/ITIN that the College has on record. 

If this box is blank, the College does not have the number on record. The student will need to add his/her number through AC Data by January 31 for inclusion in the Form 1098-T file submitted to the IRS. To add a SSN or ITIN in AC Data, select the Student’s Menu. Next, under Financial Information select Verify Social Security Number.

If this box is incorrect, please contact the Registrar’s Office at 413-542-2226 to correct the student record. *Please DO NOT include a SSN or ITIN in email for security reasons. 


•  My address listed on the Form 1098-T has changed. Will this affect me?

No. The address shown on Form 1098-T is irrelevant for IRS income tax filing purposes.


•  How do I obtain a corrected Form 1098-T?

Please report discrepancies to Student Accounts at 413-542-2817/2811 or email studentaccounts@amherst.edu.

 

•  How do I know if I'm eligible for a tax credit or tax deduction?

The College does not provide personal tax advice. Please refer to the IRS website for the following resources on higher education tax benefits:

  • IRS Publication 970 "Tax Benefits for Higher Education", which includes chapters on the American Opportunity Credit, the Lifetime Learning Credit, and the tuition and fees deduction.
  • Form 8863 "Education Credits (American Opportunity and Lifetime Learning Credits)".
  • Instructions for Form 1040 or 1040A.
  • IRS Publication 17 "Tax Guide for Individuals".
  • IRS Telephone Assistance Hotline: 1-800-829-1040

 The tax rules regarding eligibility for, calculation of, and limitations on the tuition and fee deduction and education credits can be complex. Individuals should consider consulting a tax advisor to determine whether they are qualified to claim the education expense tax credits and deduction.

*For purposes above, an Eligible Student is a student who attended the College in tax (calendar) year 2018, paid QTRE received by the College in tax year 2018, and is a U.S. resident.