The Bursar’s Office is also responsible for the following two areas: issuance of 1098T tax forms and Return to Title IV (R2T4) calculations.
1098T forms are issued to all students who pay tuition and fees in a calendar year. 1098T forms are issued when you have paid an amount in excess of grant funds. For example, if your tuition and fees for the year are $5,000 and you received grants of $2.500, your 1098T would reflect both of those amounts. However, if your tuition and fees for the year are $5,000 and your grants were $7,500, you do not qualify for the tax credit, and a 1098T form would not be issued to you.
Notes on the 1098T:
- IRS regulations prohibit the issuance of 1098T with ‘dummy’ social security numbers. If you do not have a social security number or taxpayer-identification number, your 1098T will have a blank in the social security number field.
- Your 1098T form will be mailed to the last address on file. To ensure that you receive your 1098T form promptly, please update your address with the Registrar’s Office.
- You can view and print your 1098T form through your CUNYFirst account. First, logon to CUNYfirst Self Service, then under Campus Finances, go to view 1098T.
If you receive federal Title IV aid (PELL, SEOG, Federal Direct Loans, etc.) and withdraw from or stop attending all of your classes, the college is required to recalculate the amount of aid you are eligible to receive. This is called an R2T4 calculation. The percentage of aid earned is based on the number of days you attended during the semester. An R2T4 calculation may result in the college having to return funds to one or more Title IV programs on your behalf. If that happens, your tuition account will be charged for the amount of money returned, and you will be billed for it. If you earned more aid than was disbursed to you, the Bursar would issue you a post-withdrawal disbursement.