Taxes are the way federal, state, and sometimes local governments collect money to fund public programs and services like education, transportation, and healthcare. If you’re working, receiving scholarships, or paying for school-related expenses, there’s a good chance taxes will affect you somehow. Please note that we are not tax professionals. The information shared on this page is for general guidance only, and you should consult a certified tax preparer or financial advisor for personalized support.

Filing taxes might seem overwhelming, but understanding the basics can help you save money and avoid mistakes. As a student, you may be eligible for tax credits, deductions, and refunds, making it important to know what applies to you. Not all students are required to file taxes, but it depends on your income, job status, and dependency status. If you earned income from a job, you might need to file a tax return, even if you are claimed as a dependent. Filing is also important to claim a refund on taxes withheld from your paycheck. Connect with your financial advisor for additional support.

• American Opportunity Tax Credit (AOTC)

• Lifetime Learning Credit (LLC)

• Student Loan Interest Deduction

• Learn More About "Education Credits" Here

Students can file taxes for free through the IRS Free File program if their income is below a certain threshold. Many tax preparation software programs, such as TurboTax, H&R Block, and FreeTaxUSA, also offer free filing options for students.