The Office of Financial Aid cannot offer specific tax advice/information to students and/or parents. We strongly encourage students to consult a tax advisor or the Internal Revenue Service (IRS) for details regarding tax liability, tuition and fee credits, student loan interest deductions, and other tax benefits and exemptions. Relevant information can be found directly on the Internal Revenue Service website at http://www.irs.gov/uac/Tax-Benefits-for-Education:-Information-Center.
FGCU issues a 1098-T form (Tuition Statement) for each student whom a reportable transaciton is made. For more specific information regarding this form, click here http://www.fgcu.edu/Cashiers/1098t.html.
Earnings under the federal work-study program are earned income and subject to federal, state, and local tax withholding unless a student claims exemption on the form W-4. Students employed under the federal work-study program will receive a W-2 form at the end of January, which documents all earnings at the University. It is the student's responsibility to report those earnings on their income tax returns.
It is the student's responsibility to report all taxable earnings on the FAFSA. Students should also include their taxable earnings from the Federal Work-Study program as an exclusion on Worksheet C of the FAFSA.