Student Finance

Student Finance

 

The Student Accounts and Student Debt Management Offices are responsible for posting tuition and fees to student’s OSU accounts, sending the monthly electronic billing statements; and administering the Perkins loan program, sundry scholarships, and sponsorship contracts for students.  We can also provide advising on managing your college finances.

1098-T Tuition Statement

The 1098-T Hope and Lifetime Learning tax credit tuition statements are mailed to students in January. The data is also available to view online through Student Online Services. Students can also view prior year 1098-T tax information online.

Great online resource for tax credit information: Tax Breaks for Higher Education.

The main purpose of the form 1098T is to help students determine if they are eligible to receive two tax credits: the American Opportunity credit and the Lifetime Learning credit. We follow Internal Revenue Code section 6050S and the corresponding regulations in reporting Form 1098T. A Tuition Statement is issued each year a student is enrolled in credit hours at the university. OSU reports Amounts Billed in Box 2 and not Payments Received in Box 1 as allowed by IRS regulations.

It is the taxpayer's responsibility to determine the amount of qualified tuition and fees paid, and to determine whether they are eligible for any tax credits.

To assist the student and the IRS in determining if the student qualifies for these tax credits, the university is required to indicate whether the student was enrolled at least half time for one term during the calendar year. The IRS also requires the university to indicate if the student was enrolled exclusively in graduate level courses. If this indicator is marked, it could mean the student is not eligible for the American Opportunity credits.

 

 What is the information reported in the boxes?

  • Box 1 is not used for reporting purposes by Oregon State University.
  • Box 2 represents the total amount billed for qualified tuition and related expenses for terms the student is enrolled within calendar year 2016 (Spring 2016, Summer Sessions 1 and 2 2016 and Fall 2016). Please note, an amount billed for qualified tuition and related expenses within calendar year 2016 for a future term will not be counted in Box 2. (i.e. amounts billed in 2016 for qualified tuition and related expenses for the Spring semester 2017).

What are some examples of qualified tuition and related expenses?

Qualified Tuition & Related Expenses

  • Tuition
  • General fee
  • Technology fee
  • Recreation fee
  • Program fees
  • Lab fees
  • Online Course fees

Unqualified expenses

  • Rent
  • Dining
  • Bookstore purchases
  • Late fees
  • Student Health Insurance
  • Health Care Assessment fees
  • Telephone Service fees
  • Box 4 reflects prior year adjustments to qualified tuition and related expenses.
  • Box 5 reflects grant and scholarship received by the student for terms within the
    2016 tax year (Spring 2016, Summer Sessions 1 and 2 2016 and Fall 2016).
  • Box 6 reflects adjustments for prior year grant and scholarship.
  • Box 7 is not used for reporting purposes.
  • Box 8 indicates that the student was enrolled at least half time in a degree or certificate program during the 2016 tax year.
  • Box 9 is checked for all graduate level students.
  • Box 10 is not being used for reporting purposes.

For more information please review Education Tax Credits and IRS Publication 970, for tax year 2016, when it becomes available.

Oregon State University employees cannot offer tax advice. However, if you have questions about the information provided on the 1098T form you may contact us.

The following are some of the resources available for tax information:

  • IRS Tax Form 8863 with form instructions
  • IRS Publication 970 Tax Benefits for Education
  • Online: http://www.irs.gov
  • IRS 800 Phone Number: 1-800-829-1040
  • Professional Tax Preparers
  • The 1098-T Hope and Lifetime Learning tax credit tuition statements are mailed to students in January. The data is also available through Student Online Services. Students can also view prior year 1098-T tax information for online too.

Budget Sample

Estimated Cost for 2013-2014

Estimated tuition at Corvallis for one term is $2,292.00

Additional mandatory enrollment fees for one term would be :

Health Fee $124.32
Building Fee $45.00
Incidental Fee $312.71

Total estimated tuition and fees per term is $2,774.03

Total estimated tuition and fees for 2013-2014 is $8,322.09

Other expenses as estimated by Financial Aid.

Books and Supplies $655.00
Room and board $3,526.00
Miscellaneous $859.00

One term estimated total, including living expenses $7,886.00
One year estimated total, including living expenses $23,658.00

 

Scholarships - External Scholarship Check Disbursement

The organization awarding the student's scholarship should provide the student with information as to how the check will be distributed. If the scholarship check is made payable to OSU, it is applied directly onto the student's OSU student account, according to the scholarship source's specifications. If the scholarship check requires a student signature, we will contact the student by ONID email. The check is then applied directly to the student's OSU student account. The Student Accounts Office verifies eligibility requirements defined by the scholarship source, and notifies the Office of Financial Aid and Scholarships when the scholarship is applied to a student's OSU student account.

The donor should inform students when the scholarship check has been mailed. If a student needs to know when to expect the check to arrive at the Student Accounts Office, they should contact the scholarship source.

Some scholarships are awarded for an academic year, in which case the scholarship source may send an individual check each term or a single check for all terms of the academic year. The Student Accounts Office will follow the requirements defined by the scholarship source for distribution of the funds. If the scholarship is made out directly to the university and the donor does not specify which terms the scholarship is for, the funds will be disbursed equally throughout the academic year.

If there are no charges to pay, or the amount of the scholarship is greater than the amount of charges, the excess is refunded to the student. Refund checks are mailed to student's active Current Mailing address or direct deposited depending on which option the student has chosen. Please see the refund policy for information regarding refund distribution.

NOTE: Scholarship proceeds cannot be refunded to students until the first day of classes each term.

Staff Rates

OSU employees appointed at half-time or more (not including temporary classified employees, graduate assistants or other student employees) or their dependents may register for classes at special rates. An eligible employee or eligible dependent may register for a maximum of twelve (12) credit hours per term at staff fee rates, under the terms and conditions described in the OUS Academic Year Fee Book.

All forms must be submitted to Human Resources, Kerr Administration 204 or to your Business Center prior to Human Resources Deadlines for approval. A staff fee form must be submitted each term an employee or dependent plans on utilizing the benefit

More information on staff rates can be found on the Employee Benefits Webpage under Tuition Reduction.


Employee Benefits may also be contacted by email or in person at 122 Kerr Administration Building.

Please note that staff rates are non refundable.

Third Party Billing

Third Party Billing is a program offered to students when a company, government or gorvernment agency, either domestic or foreign, has made arrangements with OSU Student Finance for special billing to cover tuition and other fees for students that they sponsor. OSU Student Finance must have on file a letter of authorization on official letterhead accompanying a completed OSU Third Party Billing Authorization Form and OSU Third Party Billing Terms and Conditions. All correspondence, contracts, tuition assistance forms and payment vouchers from the sponsor should be sent via one of the following:

 

EMAIL (preferred):

ThirdPartyBilling@oregonstate.edu

MAIL:

OSU-Third Party Billing

PO Box 1086

Corvallis, OR 97339-1086

FAX:

(541) 737-4099

 

International sponsored OSU students should send their updated Financial Guarantees to International Student Advising & Services at: ISAS.Sponsor@oregonstate.edu.

All Chapter 31 and active military sponsored students should send all forms to the Veterans Certifying Officials at: Veterans@oregonstate.edu.

All students or sponsors who have questions specifically related to sponsorship billing should send an email to Third Party Billing at: ThirdPartyBilling@oregonstate.edu.

 

Students are responsible for on time payment of any charges not paid for by their sponsor.

 

Third Party and Sponsor Payments

Third Party Payment is when a domestic or foreign company, corporation, state or government agency has made arrangements with OSU Student Accounts for special billing to cover tuition and other fees for students that they sponsor. OSU Student Accounts must have a letter of authorization on file. Letter of Authorization from the Sponsor includes:

  • Student's name
  • Student's ID#
  • Term or duration of program
  • Charges they will be responsible for
  • Address where to send the bill
  • Contact person's name and telephone number

Students who are sponsored and do not have other financial aid but have questions regarding their sponsorship billing should contact OSU Student Accounts. All correspondence, contracts, military forms, tuition assistance forms and payment vouchers from the government or companies should be sent directly to the Student Accounts office at:

Accounts Receivable
Oregon State University
Attn: Third Party Billing
PO Box 1086
Corvallis OR 97339-1086

Students are responsible for on time payment of any charges not paid for by their sponsor.