Taft University students are eligible to defer repayment of existing federally insured student loans during their enrollment period with Taft. No unaccredited college or university can provide this benefit to its students.
Applicants are encouraged to check with their lenders to confirm deferral eligibility in their particular circumstances before enrollment.
Taft University students may qualify for a Lifetime Learning Credit on their federal income tax return equal to 20% of their qualified education expenses. For 2018, the amount of your lifetime learning credit is gradually reduced (phased out) if your MAGI is between $57,000 and $67,000 ($114,000 and $134,000 if you file a joint return). You can’t claim the credit if your MAGI is $67,000 or more ($134,000 or more if you file a joint return).
The normal disclaimer: we recommend that you consult with your tax advisor or read IRS Publication 970 to determine how this credit or deduction might benefit you.
IRS Publication 970
There is no charge for the completion of loan deferral forms or the preparation of the IRS Form 1098-T which is necessary to claim the tax credits or deductions.
We hope that the above information will be helpful in budgeting for your education.
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