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.
Archive for February, 2010
Are you aware of the current Tax Benefits for Education?
Tuesday, February 9th, 2010FAFSA Deadlines for 2010-2011
Tuesday, February 2nd, 2010It’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.