Financial Aid Resources
- FAFSA and Federal Student Aid FAQs
- 2014-15 FAFSA Application Questions
- Federal StudentAid.gov
- The SmartStudent Guide to Financial Aid (from FinAid)
- PHEAA State Grant FAQs
- Selective Service System (register online)
- Request a Tax Return Transcript from the Internal Revenue Service
- IRS Help in Determining your Tax Filing Status
- Request a Proof of Income Statement from the U.S. Social Security Administration
- U.S. Department of Veterans Affairs Education Benefits
- College Board September 12, 2014 Financial Aid Presentation
Federal Tax Incentives
Students and parents of dependent students that file federal income taxes may be eligible for a tax credit or deduction for qualified education expenses, specifically payments of tuition and fees (including payments credited by educational loans). For more information on the Hope Credit, the Lifetime Learning Credit and the Tuition and Fees Deduction, visit the Tax Breaks for Higher Education page provided by the National Association of Student Financial Aid Administrators (NASFAA).
Upromise is a program that allows you to help reduce your student loan debt or assist with college expenses. Various merchants or partners will contribute a percentage of the value of purchases you make from them toward your loan. Family and friends can join on your behalf. Be aware that some partners require online purchases.
Other Financial Options
For many students, financial aid added to their personal resources provides all the funding needed to pay for college. However, in some cases, students and parents choose to take advantage of other financing options:
- Pennsylvania College Savings Program 529 Plans: "The Pennsylvania College Savings Program is the tax-smart way to save for college. The program offers three college savings vehicles to help you and your family meet the financial challenges college presents. Sponsored by the Pennsylvania Treasury Department, the program provides a unique combination of state and federal tax advantages, diversity of investment options, high contribution limits, and no age or income restrictions."
- Home equity loan – With interest rates currently favorable, some parents prefer to take out a second mortgage on their home rather than borrow through other available loan programs. (This is perfectly acceptable if this is what you choose to do.) You deal strictly with your lender, and it in no way involves the Financial Aid Office or affects any other financial aid you may be eligible to receive.
- Personal line of credit – This allows you to pay for college expenses as they occur and repay the funds in accordance with the provisions you make with your lender. Again, this in no way involves the Financial Aid Office or affects other financial aid you may be receiving.
Finally, look for ways to reduce or spread out your costs while attending Penn College:
- Consider a lighter credit load or part-time attendance. It will take you longer to get your degree, but it will reduce your tuition bill each semester.
- Get credit for advanced placement, credit by exam, transfer credits, College Level Examination Program (CLEP) and military training you may be eligible to receive. This will save you both time and money. For more information, contact the Admissions Office.
- Look for used books. They are often available at a fraction of the price of new books.
- Start buying tools early, and take advantage of sale prices.
- If you live close enough, consider commuting rather than moving to Williamsport.
- Consider taking summer courses at a college close to home if that college's tuition is less than ours and if the courses will transfer in.
- Don't pay for something that you can get for free. Use the resources available to you at the College. You have Madigan Library, computers and Internet access, scholarship searches, application assistance, Academic Success Center, job skills workshops, resumé writing, Student Activities, and many other services available to you at no additional cost. With your tuition dollars, you have already purchased these services. Make use of them to get the most of your investment.
Penn College Resources
Upon enrolling, you will interact with a number of Penn College offices, including Admissions, Bursar, College Store, Dining Services, Residence Life, and Registrar. Refer to our Office Directory for a listing of Penn College offices and contact information.
The Student Affairs Office at Penn College contributes to the enrichment of students’ academic success and enhances their quality of life.