To File a Claim: Tuition Bill from 2023
If you have a current tuition bill from this current calendar year, 2023, due in the Spring, Summer, Fall or Winter or paid in the Spring, Summer, Fall or Winter, send us a copy of that bill that shows as PAID (can be requested from school) or a copy of the tuition bill that is due for Spring, Summer, Fall or Winter 2023. (This billing must include or show any grant money that came into the school in your name for the billing time period.) That is all we need to complete a claim for a 2023 tuition billing.
**Very Important!! – If you get Pell or State Grants and want to claim your benefit for current semester expenses, you must get your College Bound claim completed and paid to your school before your grant aid flows to the school OR get a statement from your schools financial aid office that they will use this third party payment to pay for tuition, fees, books and supplies only. Room and Board expenses are not qualified expenses for reimbursement under the College Bound Program.
How to File:
Tuition bill from 2022 or earlier year
- You will need a copy of your 2022 or prior calendar year 1098T (Required tax reporting form from college/school attended – can be requested from school – they must provide)
**The 1098 T is the preferred source!** Go to www.irs.gov – click on Get Transcript Of Your Tax Record
A Copy of your 2022 or prior calendar year tuition bills showing as PAID (Can be requested from school–must show any grant money that came into the school in your name for the billing period.
2. A copy of your parents 2022 (or prior year taxes if claiming tuition expenses from 2021, 2020, 2019, etc) if they claimed you as a dependent in. those specific years that you are claiming a benefit for. We need pages 1 & 2 of the 1040 and also, the form 8863 if they filed it (this is the Federal Education Tax Credit form). Again, go to: www.irs.gov – click on Get Transcript Of Your Tax Records
3. A copy of your 2022 (or prior year taxes if claiming tuition expenses from 2021, 2020, 2019, etc) if you claimed yourself in these years. We need. pages 1 & 2 of the 1040 and also, the form 8863 if you filed it (this is the Federal Education Tax Credit form). Again, go to: www.irs.gov – click on Get Transcript Of Your Tax Records
If you have questions or problems please contact me
Many participants and parents have not filed 2022 tax returns yet. If that is the case for you and you are requesting reimbursement on a 2022 calendar year tuition expense, you may need to discuss your claim with College Bound. The rule is this; you cannot claim a tax credit on a tuition expense that you are using to claim a College Bound Reimbursement/Payment. You must subtract the amount of your College Bound claim from any tuition total that your parents or you use to claim a tuition credit on your taxes. Example; you have $5,000 of tuition expense for the year, you claim $2,400 in College Bound benefits, that leaves you with $2,600 to use on the tax return to claim a tuition credit or deduction.
This is the required information to file a claim in a prior tax year. Once we receive this information, we will contact you with questions. Please do not hesitate to call our office for an explanation on any of these requirements, that is what we are here for.
College Bound inc. Jim Northam, President
1378A Mcnally Drive Winona, MN 55987 . Cell Phone: 651.253.1204. . Email: Jim@collegeboundinc.com