1098-T Tuition Statement
Our Lady of the Lake University (OLLU) is required by the Internal Revenue Service (IRS) to file an annual Tuition Statement (Form 1098-T) for each student who is a U.S. citizen or permanent resident pursuing a degree, and for whom a reportable transaction is made (i.e. tuition, fees, and any scholarships or grants received). This information is provided to assist taxpayers in determining eligibility for claiming Education Tax Credits enacted by the Taxpayer Relief Act of 1997. This information should be combined with your own payment and financial aid records in determining any impact on your tax return. Consult relevant IRS publications. You are advised to seek tax counsel when appropriate.
The 1098-T Forms are provided to current and former students by the end of January each year.
For more information, visit the Heartland ECSI website
Delivery of your 1098-T
OLLU contracts with a vendor to provide the Tuition Statement Form 1098-T. Heartland ECSI distributes the 1098-T forms in January. In order to receive the form electronically, you must provide consent by Jan. 1. To provide consent, visit the ECSI eConsent website .
If electronic consent is not received by Jan. 1, 2020, the 1098-T will be mailed to your current address on file. In order to avoid delays in delivery of the form, you should check the accuracy of your mailing address through WebAdvisor, which can be accessed through the myOLLU Portal. If you need to update your address, please select "Update Address" to submit the most current mailing address.
Frequently Asked Questions
These will not be mailed to campus boxes, out of country addresses, or invalid addresses. Only those students who did not 'opt in' for electronic delivery on the ECSI Heartland website will receive a copy through the mail if the student has a correct current address on record with the university. Another reason for not receiving a 1098-T is if both Box 1 and Box 5 are blank
Contact the OLLU Student Business Office at 210-431-3944.
These are available in your personal registration papers. However, all of your account transactions are available on the myOLLU Portal in the Self-Service, Student Finance section. Contact the Student Business Office at 210-431-3929 for an itemized transaction listing of your account if necessary.
The 1098-T only includes qualifying tuition and fees, scholarships, grants or other gift aid. Technology fees and lab fees are qualifying fees and are also included; but other fees like general fees, dorms, or book fees are non-qualifying and are not included. The IRS instructs institutions to report payments received in Box 1. OLLU only reports Box 1 payments received for qualified tuition and related expenses. For payment information, consult your personal receipts or check your student account at the Business Office or on the web.
Yes, the information on the 1098-T is reported to the IRS each year, no later than the end of March.
The 1098-T form is utilized as a guide in the preparation of your taxes. Its purpose is to assist you in determining whether you are eligible for an education tax credit. The form is not a receipt for all payments to your account.
You received a 1098-T because your account had a tuition and fee transaction, OR a payment to your account by scholarship, grant or gift aid sometime within the calendar year.
Contact the Registrar's Office at 210-431-3959. They will require proof of your correct Social Security number. This also applies if your name is incorrect. You may need to complete a form W-9S.
This is a result of registering for spring courses before the calendar year is complete. This may nullify (net out) your fall tuition charges, making it appear that you received more scholarships or grants than tuition charges. Your registration papers show the full tuition charges for each semester that you were a student during the academic year.