A-B Tech offers a variety of enrollment and foundation scholarships each academic year. There are eligibility requirements for these scholarships. Students should visit the page for details on the types of scholarships offered and instructions for applying. Students are also encouraged to seek out scholarships offered by clubs and organizations in their communities.
- Early March: Students should have the Free Application for Federal Student Aid (FAFSA) at www.fafsa. gov completed.
- Early January: Students may apply for Enrollment and Foundation scholarships.
- Late March: Online application for Foundation scholarships will close.
- Late May/early June: Scholarship notifications are sent to students via email.
Students may access scholarship criteria on the financial aid website.
www.finaid.org: Students can access FASTWEB, which contains a database of more than 180,000 scholarships.
www.ncseaa.edu: Scholarships are available to North Carolina residents through the North Carolina State Education Assistance Authority.
www.cfnc.org: Provides students with information about scholarships, loans, and other programs.
www.nasfaa.org: Parents and students can find an assortment of information about financial aid.
www.studentloans.gov: Students can find a significant amount of information pertaining to the William D. Ford Federal Direct Loan Program.
Education Tax Credits
Community college students are eligible to receive education tax credits that can reduce the expense of their education. The credits are based on education expenses paid for them, their spouse, or their dependents.
American Opportunity Credit
Under the American Recovery and Reinvestment Act (ARRA), more parents and students qualify for a tax credit, the American opportunity credit, to pay for college expenses.
The full credit is available to individuals whose modified adjusted gross income is $80,000 or less, or
$160,000 or less for married couples filing a joint return. The credit is phased out for taxpayers with incomes
above these levels. These income limits are higher than under the prior Hope and existing lifetime learning credit. Many of those eligible qualify for the maximum annual credit of $2,500 per student.
The Lifetime Learning Tax Credit
The lifetime learning credit helps parents and students pay for post-secondary education.
For the tax year, you may be able to claim a lifetime learning credit of up to $2,000 for qualified education expenses paid for all students enrolled in eligible educational institutions. There is no limit on the number of years the lifetime learning credit can be claimed for each student. However, a taxpayer cannot claim both the American opportunity credit and lifetime learning credits for the same student in one year. Thus, the lifetime learning credit may be particularly helpful to graduate students, students who are only taking one course and those who are not pursuing a degree.
This is provided for informational purposes only. For detailed tax information, please consult a tax advisor. Information is also available at http://www.irs.gov/ Credits-&-Deductions