Bursar/Student Accounts > Tax Year 2008 Information & Costs
Tax Year 2008 Information & Costs
Examples of Lifetime Learning Tax Credits
For the 2008 tax year, payments made on or after January 1 and on or before December 31 may qualify for the Lifetime Learning Tax Credit.
The following examples show some Stony Brook University students may be able to qualify for a Lifetime Learning Tax Credit for the 2008 tax year.
Remember: only "qualified tuition and related expenses" that are not covered by grants, scholarships, fellowships, and for tuition waivers can be considered in calculating a lifetime learning tax credit.
Undergraduate or Graduate Student
A New York Resident paying full time undergraduate qualifying tuition and fees totaling $2,659.25 for Spring 2008 and $2,673.00 for Fall 2008 could receive a Lifetime Learning Tax Credit of $1,066.45 (20% of $5,332.25).
An out of state student paying qualifying (nonresident) tuition and fees totaling $5,789.25 for Spring 2008 and $5,803.00 for Fall 2008 could receive the maximum Lifetime Learning Tax Credit of $2,000.
A graduate student who is a New York resident taking 6 credits paying qualifying tuition and fees totaling approximately $1,844.20 for Spring 2008 and $1,848.10 for Fall 2008 could receive a Lifetime Learning Tax Credit of $738.46 (20% of $3,692.30).
Examples of HOPE Scholarship Tax Credits
For the 2008 tax year, payments made on or after January 1, 2008, and on or before December 31, 2008, may qualify for the HOPE Scholarship tax credit. At Stony Brook University payments made for Spring semester 2008, Summer session 2008, Fall semester 2008, and Spring 2009 (if paid by December 31, 2008) could qualify for the HOPE Scholarship tax credit.
The following examples show how some Stony Brook University students may be able to qualify for a HOPE Scholarship tax credit for the 2008 tax year.
Remember: only "qualified tuition and related expenses" that are NOT covered by grants, scholarships, fellowships, and for waivers can be considered in calculating a Lifetime Learning tax credit.
A New York Resident paying qualifying tuition and fees totaling approximately $5,332.25 for Spring 2008 and Fall 2008 semesters could receive a HOPE Scholarship tax credit of $1,650.
An out of state resident paying qualifying (nonresident) tuition and fees and totaling approximately $11,592.25 for Spring 2008 and Fall 2008 semesters could receive a HOPE Scholarship tax credit of $1,650.
What are Qualifying Tuition and Fees?
Following are the tuition and fee charges at Stony Brook University that meet the definition of "qualified tuition and related expenses" under the Taxpayer Relief Act of 1997. Qualifying tuition and related expenses are tuition, college fees, athletic fees, student activity fees, and technology fees.
The amounts represent the qualifying tuition and fees for full-time undergraduates and graduates, who have paid their fees within the outlined time frame, but does not include any qualifying laboratory or course material fees that may also have been paid.
Full-time Student Profile Spring/Fall 2008
| Qualifying Fees | Spring 2008 | Fall 2008 | |
|---|---|---|---|
| New York State Resident Undergraduate | Tuition | $2,175.00 | $2,175.00 |
| College Fee | $12.50 | $12.50 | |
| Activity Fee | $94.25 | $94.25 | |
| Athletic Fee | $204.00 | $211.50 | |
| Technology Fee | $173.50 | $179.75 | |
| Total: | $2,659.25 | $2,673.00 |
| Qualifying Fees | Spring 2008 | Fall 2008 | |
|---|---|---|---|
| New York State Resident Graduate | Tuition | $3,450.00 | $3,450.00 |
| College Fee | $12.50 | $12.50 | |
| Activity Fee | $22.00 | $22.00 | |
| Technology Fee | $173.50 | $179.75 | |
| Total: | $3,658.00 | $3,664.25 |
| Qualifying Fees | Spring 2008 | Fall 2008 | |
|---|---|---|---|
| Out of State Undergraduate | Tuition | $5,305.00 | $5,305.00 |
| College Fee | $12.50 | $12.50 | |
| Activity Fee | $94.25 | $94.25 | |
| Athletic Fee | $204.00 | $211.50 | |
| Technology Fee | $173.50 | $179.75 | |
| Total: | $5,789.25 | $5,803.00 |
| Qualifying Fees | Spring 2008 | Fall 2008 | |
|---|---|---|---|
| Out of State Graduate | Tuition | $5,460.00 | $5,460.00 |
| College Fee | $12.50 | $12.50 | |
| Activity Fee | $22.00 | $22.00 | |
| Technology Fee | $173.50 | $179.75 | |
| Total: | $5,668.00 | $5,674.25 |
The amounts represent the per-credit rates of qualifying tuition and fees for full-time undergraduates and graduates, who have paid their fees within the outlined time frame, but does not include any qualifying laboratory or course material fees that may also have been paid.
Part-time Student Profile Spring 2008
| RATE | ||
|---|---|---|
| Tuition New York State Resident Undergraduate | Per Credit | $181.00 |
| Tuition New York State Resident Graduate | Per Credit | $288.00 |
| Tuition Out Of State Undergraduate | Per Credit | $442.00 |
| Tuition Out Of State Graduate | Per Credit | $455.00 |
| College Fee | Per Credit | $0.85 |
| Activity Fee - Undergraduate | Per Credit | $7.90 |
| Activity Fee - Graduate | Per Term | $7.00 |
| Athletic Fee | Per Credit | $20.40 |
| Technology Fee | Per Credit | $17.35 |
Part-time Student Profile Summer 2008
| RATE | ||
|---|---|---|
| Tuition New York State Resident Undergraduate | Per Credit | $181.00 |
| Tuition New York State Resident Graduate | Per Credit | $288.00 |
| Tuition Out Of State Undergraduate | Per Credit | $442.00 |
| Tuition Out Of State Graduate | Per Credit | $455.00 |
| College Fee | Per Credit | $0.85 |
| Activity Fee - Undergraduate | Per Term | $15.00 |
| Activity Fee - Graduate | Per Term | $5.00 |
| Technology Fee | Per Term | $50.00 |
Part-time Student Profile Fall 2008
| RATE | ||
|---|---|---|
| Tuition New York State Resident Undergraduate | Per Credit | $181.00 |
| Tuition New York State Resident Graduate | Per Credit | $288.00 |
| Tuition Out Of State Undergraduate | Per Credit | $442.00 |
| Tuition Out Of State Graduate | Per Credit | $455.00 |
| College Fee | Per Credit | $0.85 |
| Activity Fee - Undergraduate | Per Credit | $7.90 |
| Activity Fee - Graduate | Per Term | $7.00 |
| Athletic Fee | Per Credit | $21.35 |
| Technology Fee | Per Credit | $18.00 |
Disclaimer
This material has not been approved by the IRS or U.S. Treasury and is not an official document. It is offered as a service to the Stony Brook University students and families. This is not an official form, nor does it necessarily represent official policy of the State University of New York. This material has not been reviewed or approved by an attorney. These term amounts have been provided as a service to the Stony Brook University students and families and your actual costs may be different from the charges presented here.
