South Carolina Tuition Tax Credit
The South Carolina General Assembly has recently increased its income tax credit for
eligible students for tuition paid to South Carolina colleges and universities. Students
may qualify for up to $1500 in tuition tax credits. For eligibility to be determined,
Form 1040 must be filed and Form I-319 must also be completed. Click HERE to find out more about this tax credit.
Student Resources (SC Department of Revenue)
SC Tax Form I-319 (2024 Tuition Tax Credit)
1098-T Tax Form
The IRS requires schools to report the total amount of payments received for qualified
tuition and related expenses from all sources during the calendar year in Box 1. IRS
guidelines require that student transactions must be reported in the calendar year
in which they occur. The calendar year begins January 1st and ends December 31st.
Students can retrieve their 1098-T statements by logging onto Self Service Carolina,
selecting Account Information, and then selecting "Tax Documents by Year."
Please Note: The Tax Reform Act of 1997 provided taxpayers/students with Hope Scholarship and Lifetime Learning tax credit opportunities. As part of that act, the Form 1098-T Tuition Statement is sent to students in late January and to the IRS at the end of March every year.