Taxpayer Relief Act

Information for UAlbany Students and their Families

Some tax benefits are available to families and students who are paying the costs of higher education. Qualified students may take advantage of educational tax credits (Hope Scholarship or Lifetime Learning Credits), an educational Individual Retirement Account (Education IRA), and a deduction for student loan interest.

Information on tax benefits and your eligibility may be obtained either from the Department of Taxation-Internal Revenue Service at 1-800-829-1040 or from a tax advisor. The IRS also provides Publication 970 (2003) as a guide to tax benefits.

For further information you may visit the IRS web site which contains the Notice 97-60. Please see additional tax information for students. Information is also available at www.hesc.com, College & Career Planning, Parents & Families, then Tax Advantages.

The University and its employees cannot provide tax information, assistance, or advice.