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Budget Proposal and Candidate Positions on Higher Ed Funding

Going to cover all the politics in one post today. President Trump’s budget proposal, released yesterday, proposes some significant changes to higher education funding. In addition, TICAS (The Institute for College Access & Success), in partnership with the Carsey School of Public Policy at the University of New Hampshire, has released a briefing comparing the presidential candidates’ positions on education…

Education Tax Credits: AOTC

Currently two tax credits exist to help defray higher education expenses, the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit. Each is slightly different but for most families, the AOTC is the most beneficial. The maximum annual AOTC credit is $2,500 per student. Eligibility is limited to undergraduates who are enrolled at least half time for at least…

Welcome to my new site!

I’ve changed! And for the better, I think. While it’s probably pretty obvious why I redesigned The College Financial Lady, I thought I’d give you the full background anyway. I started writing this blog 6 years ago, in January 2014. I had made a New Year’s resolution to develop a writing habit. At the time, I was getting a lot…

What do I do with Form 1098-T?

Form 1098-T is a tuition statement that colleges and universities are required to provide. The 1098-T shows “payments received for qualified tuition and related expenses” and scholarships received, provided they either came from the college or were disbursed directly to the college. Form 1098-T is used for two purposes: To verify tuition expenses for taxpayers claiming the AOTC or LLC….