Tutt Library Research Guides
How much money can I borrow in federal student loans?
Grants and scholarships are free money to help pay for college or career school.
U.S. Department of Education offers a variety of federal grants to students attending four-year colleges or universities, community colleges, and career schools. Almost all of those grants are awarded to students with financial need.
If you are interested in these grants, or in any federal student aid, you have to start by submitting a Free Application for Federal Student Aid (FAFSA®).
(Free) Scholarship search tool - from CareerOneStop sponsored by the U.S. Department of Labor
Student Profile-Based Aid , from FinAid, lists several catagories of aid
Tax Credits for Higher Education Expenses
Two tax credits help offset the costs (tuition, fees, books, supplies, equipment) of college or career school by reducing the amount of your income tax:
Student Loan Interest Deduction
You can take a tax deduction for the interest paid on student loans that you took out for yourself, your spouse, or your dependent. This benefit applies to all loans (not just federal student loans) used to pay for higher education expenses. The maximum deduction is $2,500 a year.