Policies & Procedures: Student Aid Taxation
Taxation of Student Aid and Excluding Work-Study on the FAFSA
The Internal Revenue Service (IRS) provides information on scholarships which may be taxed in their Publication 970. The Haverford College Business Office issues the 1098-T each year and you may contact them if you have questions about the information on that form.
The Haverford College Business Office issues a W-2 form for all taxable, work study wages earned at the College, and you may contact them if you have any questions about the information on that form.
IRS tax forms and instructions are usually available at local post offices after January 1st and up to April 15th. You may also download forms and publications directly from the IRS Web Site. Pennsylvania State income tax forms are usually available at local public libraries (the Ardmore Free Library is on Ardmore Avenue just past the post office). For information on whether you must file a Pennsylvania Income Tax Return or your home state's return, please contact the Commonwealth of Pennsylvania-Department of Revenue and your state's tax department.
Federal Department of Education regulations require students to exclude job earnings from the Federal Work-Study Program or any other need-based work programs by entering them on the FAFSA. Please see the instructions on the FAFSA which describe this procedure. Any Work-Study listed on your Financial Aid Decision (i.e. either Federal or Haverford) can be considered "need-based" for this purpose. Actual amounts earned are on the payroll check stub provided to you by the Haverford College Business Office. You must also refer questions about the amount of income taxes withheld from your Work-Study wages to the Business Office.
International Students are subject to different regulations. For specific details we must again refer you to the IRS or your tax advisor. The Controller of the College does send a statement to the IRS regarding the amount of aid International Students have received from the College.