Office of Financial Aid & Enrollment Support

Often overlooked by taxpayers, tax deductions and tax credits are another way to save money for college.  Deductions reduce taxable income and credits directly reduce tax obligation dollar for dollar, allowing taxpayers to keep more of their money to pay for college.   For an overview of current education tax benefits, check out the comparison chart at http://www.finaid.org.   For detailed tax filing information regarding tax benefits for education, see IRS publication 970:  http://www.irs.gov/pub/irs-pdf/p970.pdf.

It’s time for applicants and current students to file for financial aid for the 2010-11 academic year.  The preferred deadline for applicants is February 15th and for current students it is March 15th.  You can complete the FAFSA (Free Application for Federal Student Aid) or renewal FAFSA with the U.S. Department of Education electronically at www.fafsa.ed.gov. The FAFSA serves as the official financial aid application for all federal, state and institutional need-based programs.  Students and parents must have their own Federal Student Aid PIN (www.pin.ed.gov) to sign the FAFSA electronically.  If you have any questions about filing the FAFSA, please contact the Office of Financial Aid & Enrollment Support at 800-835-7780.   If selected for verification, students and parents will be notified of addtional required documents and their due dates.

Allegheny College, with help from the National Endowment for Financial Education, is taking a proactive approach to financial education.  Allegheny’s Cash Course web site (http://cashcourse.org/alleghenycollege/Default.aspx) provides unbiased and noncommercial financial resources for students and alumni who want to develop smart money management skills. Topics include: protecting your credit, preventing identity theft, sources of financial aid and understanding insurance and taxes. Be sure to take advantage of this terrific money management resource!