Scholarship / Grant An amount paid or allowed to, or for the benefit Financial Aid 1098T 1042-S * Awarded funds to (Financial Aid) of, a student (undergraduate or graduate) as a 8-2740 cover educational result of enrollment at an educational institution expenses, i.e., where to aid in the pursuit of their studies or related student receives research, e.g., amounts paid to tuition and credit? required fees, books, supplies or equipment and does not exceed the University’s published Awarded funds to tuition and fee charges (i.e., the cost of support an internship attendance which can include tuition, room, where student board, etc.) receives credit? Site Agreement / Third-Party An agreement whereby ISU agrees to pay an Research and N/A N/A Awarded funds where Employer external employer money. The student is Sponsored the student works for considered an employee of the third-party. Programs an external employer 8-2528 and the University provides funding to the external employer? Fellowship Comptroller/ An amount paid for the benefit of an individual to Awarded funds where Payroll no credit is awarded aid in their pursuit of study or research, where i) 8-7677 and university makes the individual is not receiving credit for academic Letter to payment to student? work associated with the payment; ii) no services Student 1042-S* are expected in return for support for the payment and, iii) payments are not used to pay tuition and required fees, books, supplies or equipment. Tuition Waiver Tuition and fee waivers are an agreement Financial Aid 1098T W2 for W2 or 1042-S Receiving a tuition – 8-2740 Gas over the for GAs over waiver as part of a between the student and the university to reduce $5250 the $5250 with graduate assistant or eliminate tuition and/or fees. All Illinois threshold. a treaty benefit appointment? public universities are authorized to award two general types of tuition and fee waivers: Mandatory waivers and discretionary waivers. Mandatory waivers are authorized by
Awarded funds to cover educational expenses, i.e., where student receives credit? Awarded funds to support an internship where student receives credit? Scholarship / Grant (Financial Aid) An amount paid or allowed to, or for the benefit of, a student (undergraduate or graduate) as a result of enrollment at an educational institution to aid in the pursuit of their studies or related research, e.g., amounts paid to tuition and required fees, books, supplies or equipment and does not exceed the University’s published tuition and fee charges (i.e., the cost of attendance which can include tuition, room, board, etc.) Financial Aid 8-2740 1098T 1042-S * Awarded funds where the student works for an external employer and the University provides funding to the external employer? Site Agreement / Third-Party Employer An agreement whereby ISU agrees to pay an external employer money. The student is considered an employee of the third-party. Research and Sponsored Programs 8-2528 N/A N/A Awarded funds where no credit is awarded and university makes payment to student? Fellowship An amount paid for the benefit of an individual to aid in their pursuit of study or research, where i) the individual is not receiving credit for academic work associated with the payment; ii) no services are expected in return for support for the payment and, iii) payments are not used to pay tuition and required fees, books, supplies or equipment. Comptroller/ Payroll 8-7677 Letter to Student 1042-S* Receiving a tuition waiver as part of a graduate assistant appointment? Tuition Waiver Tuition and fee waivers are an agreement between the student and the university to reduce or eliminate tuition and/or fees. All Illinois public universities are authorized to award two general types of tuition and fee waivers: Mandatory waivers and discretionary waivers. Mandatory waivers are authorized by Financial Aid 8-2740 1098T – W2 for Gas over the $5250 threshold. W2 or 1042-S for GAs over the $5250 with a treaty benefit
Student%20Payment%20-%20Types%20%20Tax%20Reporting%20-%20%207.11.2017.docx