Year-end 1098-T | Business Office

IRS Form 1098-T reports information regarding students enrolled in postsecondary education as mandated by the federal government. This form is also being submitted to the Internal Revenue Service.

Per a change in IRS regulations, eligible educational institutions will complete Box 1 of form 1098-T. Box 1 reports payments received for qualified tuition and related expenses. 

For information regarding education tax benefits, please visit the IRS website at www.irs.gov. You may also wish to consult your tax preparer.

What is an academic term?

Each of the following is considered an academic term at Carroll:

• Fall Semester
• Spring Semester
• Summer (three sessions make up one term)

What is considered “at least half-time” enrollment?

• Undergraduate - Carroll considers an undergraduate student who enrolls for at least 6 credits in an academic term to be enrolled "at least half-time".
• Graduate - Carroll considers a graduate student who enrolls for at least 3 credits in an academic term to be enrolled "at least half-time".

How are payments applied to a Carroll student account?

Amounts are credited to a student account in the following manner:

1. Financial Aid, in the form of grants and scholarships, is credited to a student’s account first and will be applied in the following order.
   • Tuition
   • Program fees
   • Other fees
   • Meal Plan charges
   • Housing charges
2. Cash payments (other than student loans) are first applied to fines and incidental charges.
3. All remaining cash payments and loan proceeds are applied to remaining charges in the same order as in #1 above.

This information is provided by the Carroll University Business Office 262.524.7337 or busoff@zo23.com. Questions and email inquiries will be addressed during regular business office hours.

For official cost of attendance budget information, click here.