Financial Literacy - Best Practices

• Before you take out a loan, see if you can obtain a scholarship, so that you will not have extra debt:
  Check out scholarships offered by the SCF Foundation:

  http://www.scffoundation.net/scholarships/applying.htm

• Before you take out a loan, make sure you find a loan with the best interest rate and the best terms.

• Apply for Pell Grants:

  http://www2.ed.gov/programs/fpg/index.html

• Participate in the Wellness Program at SCF to earn $300.00 credit at the SCF Bookstore

  http://www.scf.edu/StudentServices/StudentLife/WellnessProgram/default.asp

• At most 4-year institutions, if students work on campus (even for 10 hours a week), they are eligible for tuition stipends (25-100%)

• Look for scholarships from employers, churches and community organizations.

• If the student is not claimed by their parents for tax purposes and he or she has paid for their tuition/ books (even partially) and are considered full-time, then they can apply for the American Opportunity Tax Credit ($2,500/ annually for the first two years):

  http://www.irs.gov/uac/American-Opportunity-Tax-Credit

• Pending Congressional budget approvals, there may also be a Lifetime Learning Tax Credit ($1,500 for the remaining years)

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