There’s more than one way to pay for college. Check out these options to make your education more affordable. CREATIVE WAYS TO FUND YOUR EDUCATION
NEST 529 COLLEGE SAVINGS PLAN Your parents can invest in this plan to save for your education and enjoy a Nebraska state income tax deduction. Visit nest529.com for details. COLLEGE PAYMENT PLANS Some colleges let you pay tuition in monthly installments. Ask your college about finance charges and deadlines to enroll. THE MILITARY All branches of the military offer education benefits like the G.I. Bill, tuition reimbursement, and student loan repayment. Talk to a recruiter to learn how these programs can fit into your future. GAP ASSISTANCE PROGRAM Financial aid is available for low-income students in non-degree community college programs, such as certifications and technical training. Contact your local community college for eligibility and application info.
PRIVATE LOANS Private loans from banks or lenders can help cover gaps in funding, but they often have higher interest rates than federal loans. Consult your college’s financial aid office before pursuing this option. HOME EQUITY LINE OF CREDIT Your family can borrow money using the equity in your home. Carefully consider the risks and talk to a financial advisor. NEBRASKA AGENCIES • Nebraska VR: Support for students with disabilities. • Nebraska Department of Labor: Training and financial aid for career development. • ResCare Workforce Service and Central Plains Center for Services: Assistance programs for qualifying families. AMERICORPS Exchange community service for a stipend and an educational award. Visit serve.nebraska.gov or americorps.gov .
EDUCATION TAX BENEFITS
LIFETIME LEARNING CREDIT A tax credit of up to $2,000 for tuition and fees for students taking classes to earn a degree, credential, or improve job skills. You must be enrolled in at least one academic period during the tax year.
AMERICAN OPPORTUNITY CREDIT A tax credit for students enrolled at least half time in an undergraduate program. It’s worth up to $2,500 per student annually, and up to $1,000 of that is refundable—even if you don’t owe taxes!
Visit irs.gov for more information on student tax benefits.
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