Harvey Mudd Publications
General Financial Aid Information
- The College Board Online
This site provides an excellent overview of financial aid, as well as calculators with which you may estimate your family’s contribution (if you do so, make sure to select Federal and Institutional Methodology).
- The College Board’s Avoiding Scholarship Scams
- College Navigator
A free consumer information tool designed to help students, parents, high school counselors and others get information about colleges.
- Student Aid on the Web
This is an excellent website devoted to furthering students’ and parents’ understanding of federal financial aid.
A comprehensive site on financial aid, this site provides links to major scholarship and loan sources as well.
- California Student Aid Commission
Provides information on the Cal Grant Program and the California State ScholarShare Program.
- National Student Loan Data System (NSLDS)
Check the history of loans you’ve taken out from Harvey Mudd College and other institutions.
IRS Publication 970 Tax Benefits for Education: Information about federal programs designed to support families paying higher education expenses by providing tax benefits to students and their families. The most commonly used tax benefits include:
- Hope Credit: a nonrefundable tax credit for out-of-pocket tuition expenses. You can deduct 100 percent of the first $1,200 spent on tuition and other qualified expenses, plus 50 percent of the next $1,200, for the first two years of post-secondary education. Maximum credit is $1,800.
- Lifetime Learning Credit: a tax credit of up to $2,000 (20 percent of the first $10,000) for educational expenses.
- Coverdell Education Savings Account (Education IRA): Families can contribute up to $2,000 per year tax free for each child under 18 in the child’s name toward education expenses.
- Student Loan Interest Deduction: Interest paid on education loans can be deducted up to $2,500, even if the tax filer does not itemize deductions.
- The American Opportunity Credit is worth up to $2,500 of the cost of tuition and related expenses. You can claim it on your 2013 through 2017 tax returns. The credit amount starts phasing out if you make more than $80,000, or $160,000 if you’re filing a joint return. Even if you don’t make enough money to file a return, file anyway because you may get up to $1,000 back.
Financial Aid Calculators
- Department of Education Repayment Estimator
Use the Repayment Estimator to estimate your federal student loan payments under each repayment plan.
- CollegeBoard.com Calculators
Calculators for everything from Expected Family Contribution to loan repayment.
- Sallie Mae Calculators
Calculators about planning and budgeting, reducing the cost of borrowing and evaluating repayment options.
- FinAid.org Calculators
Offers online calculators on a wide range of student finance issues, from need analysis to loan repayment.