Student Financial Services
The Student Financial Services Team at New England College, located in the historic Administration Building, provides personal attention with billing and financial aid to students and parents from the time of your initial inquiry through the completion of studies.
Hours: M-F, 8:30-4:30 EST
For Student Financial Aid Refunds
Students may enroll in direct deposit in the online billing portal of the MyNEC account. Other choices for student refunds are a check mailed to the mailing address listed in the MyNEC account or loaded to a reloadable debit card (such as those purchased at Walmart or a convenience store).
To make a refund choice, log into the MyNEC at www.nec.edu, click on Student Services & Financial Aid, click on Online Account, click Choose Refund Method, click Student Choice Refunds, then Manage My Student Choice Refunds Account. Refunds from Parent PLUS loan excess funds are mailed to the parent borrower. Refunds are available within approximately 10 business days from the receipt of excess loan funds.
IRS Form 1098-T Tuition Statements
1098-T forms for eligible students are available online through MyNEC. A copy is also sent by mail January 31. The 1098-T form assists you in determining if you are eligible to claim an education tax credit on your tax return. The 1098-T form is informational. Receipt of the 1098-T form does not imply eligibility for a tax credit. Students should consult their tax advisor or the IRS publication 970, Tax Benefits for Education, to determine eligibility for an education tax credit.
Please note that when an education credit is taken on the federal income tax return, the calculation of the credit is based on the amount of qualified educational expenses actually paid by the taxpayer during the calendar year.
NEC reports amounts billed to a student’s account in the calendar year on the 1098-T. Therefore, the amount used to calculate your education credit will not necessarily be the same as the amount that appears in Box 2. You should use the information on the 1098-T form in conjunction with your own payment records to determine eligibility for an education tax credit