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15

Fund Your Future

COLLEGE CAMPUS FINANCIAL

AID AND SCHOLARSHIP OFFICE:

STUDENT ACCOUNTS

A college campus may establish an on-campus business

office, financial aid office, or debit card account for tracking

your student financial aid information.

*Middle Class Scholarship award information

is currently also available through UC or CSU.

CAL GRANT APPEALS

The most common reason a student submits a

Cal Grant Appeal is due to a late filing – missing

the March 2 deadline.

If you believe you qualify for a Cal Grant, have a valid reason

to appeal and would like your application reviewed again,

you may submit the Cal Grant Appeals Form or a written

letter to the Commission requesting a review of your Cal

Grant status. Your appeal should state the reason you are

requesting a review of your Cal Grant status and include any

relevant supporting documentation.

The Commission may not be able to overturn the denial. You

will need to work with your college or high school because

you will need certification from your school verifying your

request to correct any errors.

If you are applying for a Competitive Cal Grant award (you’re

not a current high school senior or a recent graduate) and

you received a disqualification letter, you’ll need to reapply

next year unless you’re planning to attend a California

community college in the fall. If you’ll be attending a

community college in the fall, correct your Student Aid

Report before the Cal Grant September 2 deadline.

If you don’t qualify for a Cal Grant this year, you are

encouraged to apply again next year.

The Commission will not make professional judgments

on financial information or decisions regarding your

dependency status. If you feel that your financial information

or dependency status should be re-evaluated, please see

your school financial aid office to discuss professional

judgment. The Commission will only accept financial

corrections or changes to dependency status directly from

your school.

In addition, the Commission does not review any problems

with federal or school-based aid or loans. You should contact

your school’s financial aid office for questions or problems

regarding other financial aid. Questions regarding your

student loans should be directed to your lender.

TAX INCENTIVES

FEDERAL TAX INCENTIVES

The American Opportunity Tax Credit (AOTC) allows you

to claim up to $2,500 per student per year for qualified

educational expenses in the first four years of college. Up to

$1,000 of the credit can be refunded if your credit is more

than you owe in taxes. For more information, visit:

www.irs.gov/publications/p970/ch02.html .

The Lifetime Learning Credit allows you to claim up to

$2,000 per tax return for tuition, fees, and other qualified

educational expenses. Unlike the AOTC, this credit is

limited to the amount of tax you owe, so it is not refundable.

Also unlike the AOTC, there is no limit of years this credit

can be claimed. For more information about these and

other tax benefits for education, please visit

www.irs.gov/ publications/p970/ch03.html .