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Banking and Tax Information

Banking Services

For student banking needs there is a full service ATM machine located in the Reamer Campus Center which is owned and operated by Bank of America.

Students may also cash checks at the Cashier's Office located in McKean House.

The College has a policy that prohibits any bank/vendor from promoting credit cards to students.

Direct Deposit

Students who who work on campus including college work study may elect to have their bi-weekly earnings deposited directly into their bank account. To print a direct deposit enrollment form Click here. Details are also available in the Payroll Office in McKean House.

Education Tax Credits

1098T Tax forms will be mailed to US citizens and Resident Alien students at their home address in January each year. The 1098T will report eligible education expenses for three (3) terms; including Winter 2015, Spring 2015 and Fall 2015 for Tax Year 2016. Eligible expenses include tuition and activity fees only. The 1098T will also report Scholarship and Grants for these terms. Students and their families may be eligible for one of the two (2) Education tax credits available. These include the American Opportunity Credit  and the Lifetime Learning Credit.

International Student Tax Reporting

If necessary, 1042S Tax forms will be mailed to international students at their campus box address in January each year . The 1042S will report taxable income which is comprised of scholarships and grants in excess of eligible education expenses including tuition, fees and allowable living expenses.  

All Canadian students will receive the TL-11A Canadian Tax Statement at their Union College email address in January each year. The TL-11A will report total tuition and fees only.