OTHER WAYS TO PAY FOR COLLEGE
NEST 529 COLLEGE SAVINGS PLAN By investing in this plan, your parents can set aside money for your college education and get a Nebraska state income tax deduction. Find details at nest529.com . COLLEGE PAYMENT PLANS Some schools offer a monthly payment plan. Ask your college about finance charges. THE MILITARY All military branches offer education assistance, including the G.I. Bill, tuition reimbursement, and student loan repayment. Talk to a recruiter for details. PRIVATE LOANS These student loans are not funded by the federal government. Talk to the college financial aid office to determine if a private loan might be an option to help fund your education.
HOME EQUITY LINE OF CREDIT LOAN A line of credit that allows you to borrow money as you need it. NEBRASKA AGENCIES Certain Nebraska agencies provide education assistance for those who qualify. Examples include:
• Nebraska VR. • Nebraska Department of Labor. • ResCare Workforce Service. • Central Plains Center for Services.
AMERICORPS Provides a stipend and educational award in exchange for community service. To learn more, visit serve.nebraska.gov or americorps.gov . GAP ASSISTANCE PROGRAM Financial aid for low-income students enrolled in community college programs that do not lead to a degree.
TAKE ADVANTAGE OF TAX BENEFITS
LIFETIME LEARNING CREDIT Students must be enrolled for at least one academic period beginning in the tax year. This credit is also allowed for courses toward a degree, educational credential, or for classes taken to improve job skills.
AMERICAN OPPORTUNITY CREDIT Students must be enrolled in college at least half-time for one period of the tax year and be pursuing an undergraduate degree.
See irs.gov or talk to your tax advisor for details.
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