college tuition

college tuition questions and answers

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Q: College Tuition?
Im a Marine Wife and I am planning on moving with my husband to his pds very soon. I am going to continue my education for a career in the medical field. I was wondering if Imove out of state do I pay out-of-state student tuition or do i pay regular tuition as if I lived in that state. Techincally I will be living in that state and not moving to that state just to attend college there. Does anybody know how this works?

A: Being a military wife will give you more options. You will need to talk with Admissions to clear this up. You should have no problems paying in-state fees. Be sure to visit financial aid also. There are many grants, scholarships, and loans available for military families. Good Luck.

Q: What fees are included in a college tuition?
My father is a disabled veteran, so I get my college tuition for Davis for free. I was wondering what kind of fees are deducted? Registering for classes, meal plan/etc? What is part of a college tuition?

A: student activity fee room&board ID fee

Q: How can I get college tuition money without having to go through financial aid?
I want to go back to college in Nursing, Social Work or Teaching but I am ineligible for financial aid. Where can I get tuition assistance?

A: Fill out a FAFSA - even if you don't qualify for aid the government loans have the best interest rates. There are also private lenders like www.edfinancial.com. And, last but not least, there are scholarships. There are scholarships only available for adult students, ones only available for certain professions (there's a ton for nursing and teaching) and then just general scholarships. Talk to the financial aid department in your school of choice and they can possibly help you find these scholarships. There's also a website www.fastweb.com which lists a whole bunch of scholarships. I'm also going back to school this fall (nursing) - I hope this helps!

Q: Can college tuition ever be a business deduction?
I am self-employed, but do not have a degree yet in the field I work in. I went back to school and am getting a degree in my current field of work. It's a 4 year college and my tuition is 15000 a year. I do get a personal education deduction but it is just a small amount of the tuition. Could I deduct the full amount as a business expense instead?

A: The following is a paragraph from the link below: Introduction You may be able to deduct qualified education expenses paid during the year for yourself, your spouse, or a dependent. You cannot claim this deduction if your filing status is married filing separately or if another person can claim an exemption for you as a dependent on his or her tax return. The qualified expenses must be for higher education, as explained later under Qualified Education Expenses I queried "educational expense tax deduction"

Q: Can my parents claim just my college tuition if thats all they pay for?
Im 21, I've been living on my own for 2 years.I pay for all of my bills. My parents want to claim me as dependent for tax purposes. I want to claim as independent so I can get my full refund and get my rebate check in may. All they pay for is my college, is there any way they can claim just my tuition?

A: If you are away from home at school, you're still considered to be living in your parents' home. They can still claim you as a dependent unless you provide more than half of your OWN support. College tuition in included in that calculation so it's very likely that they can still claim you even if you are paying the rest of your expenses. See IRS Pub 501 and the support worksheet to see if they can still claim you as a dependent. If they can, you lose your personal exemption even if they don't claim you. This isn't a "pick and choose" decision; you must abide by the law on the matter. For them to claim any of the educational credits or deductions they MUST claim you as a dependent. And if they can't claim you as a dependent then nobody can claim them as you didn't pay them.

Q: How do I determine which college tuition tax deduction/credit I am entitled to?
My son (age 19) started college in fall 2007. I made monthly payments towards his college tuition/room board. I received a 1098 recently. I do not understand this form, plus it is in my son's name even though I am making the payments. Thanks for any help!!

A: You can claim it as he is your dependent. You need to look up the information for the Hope credit. You don't have to understand the 1098 in order to use it. Just insert the amounts in the boxes! You must file the 1040 in order to use it. I believe their is at least a worksheet or form you will need, too. It should all be in the FAQ section I found for you. http://search.irs.gov/web/query.html?col=allirs&charset=utf-8&qp=&qs=-Wct%3A%22Internal+Revenue+Manual%22&qc=&qm=&rf=&oq=&qt=hope+credit

Q: Is it possible to have a fundraiser to pay for college Tuition?
I don't have alot of money and I can't afford a student loan, and I don't have any scholarships. I want to apply for classes to an online school (Penn Foster Career School) and they don't offer financial aid. Is ther any possible way I can conduct a fundraiser to pay for my college tuition or is this not allowed. If it is allowed does anyone have any fundraiser ideas that I could use to raise around $600.00 for tuition?

A: That sounds kinda fishy that they don't have financial aid. Do some research on this college to be sure they aren't a fraud. Are there any other online colleges that you could get the classes you want that do offer help?

Q: If your parents pay for a part of your College tuition, can they deduct that from their taxes?
I'm starting in fall and even though i 've received scholarships and grants there is still money that needs to be paid in either the form of a loan or out of pocket. My parents are willing to pay the remaining portion just as long as at least part of it is tax deductable, if not they told me that i have to get the loans. They are going to be paying $5,000 per semester. I'm going to be attending a private school the tuition is $33,000 and the Room and Board is $10,000 totaling $43,000 per year. My scholarships/grants are just a little over $33,000 per year, so they would be paying the rest. Let me know if there are any credits/deductions that they can claim, thanks. P.S it's going to be my first year in college if that makes a difference.

A: Your parents would not be able to take any tax deductions because the tax deduction is only for tuition and required fees. Scholarships and grants count as a deduction of tuition before any other expenses are considered. With your scholarship and grants adding up to more than your tuition, there will be nothing left to deduct.

Q: Can I withdraw from my 401k without penalty to fund my college tuition?
I am planning on working for a couple of years before going to school for a regular MBA. Can I contribute to my 401k plan now and withdraw it without penalty to fund my college tuition? Or is it better to take the tax hit now, rather than take the penalty later ?

A: If you leave your current job before going to school, and you do a direct rollover from your 401k to an IRA, you can use the proceeds for qualified higher education expenses. You will have to pay regular income tax but not the premature distribution penalty. If you anticipate that your income will be less while you're a student, then it is probably to your advantage to take the deduction now and pay regular income tax on the proceeds later when you might be in a lower tax bracket. MADMAN is incorrect regarding the premature distribution penalty. On page 53 of the IRS Publication 970, it states that you can withdraw from your IRA without the penalty if you use the proceeds for qualified higher education expenses in the year that you make the withdrawal. Of course, you still must leave the job in order to be able to do the direct rollover of your 401k into an IRA.

Q: Why will college tuition rise now that the election is over?
Today (November 7, 2009) the news says college tuition will rise in most universities by at least 25% before next quarter! Will Obama and Pelosi demand another bailout to help students pay their tuition rather than insist that overpaid professors take a pay cut?

A: Obama wants to give each college student $5,000 a year. So colleges raise the prices so they can get that extra $5,000, so basically its a STEAL for the colleges. this is exactly why Obama should not hold the most powerful, important job in the world. Obama is going to bring this country down and Mitt Romney will save us in 2012. Vote Romney 2012

Q: How much should I spend for a college tuition?
Question 1 What should the money range I spend on a college tuition be If I make $90,000 a year from working? [ least to most ] ---------- Question 2 Do the parents usually pay for the tuition or do the students pay for it?

A: I am not sure I under stand your first question but If you are asking how much a year of University tuition runs, it's about $10,000 a year. Question 2 depends on the circumstances. If the parents are financially able to, then many do. Some parents are able to help pay and the rest is either from student loans and/or the student working to pay it. Does that answer you questions?

Q: Why has college tuition more expensive than in the past?
I recently read that between 1996 and 2006 college tuition in the USA increased an average of 80% while prices in general only increased 30% in that period. Why? Where is the extra money raised going to?

A: The cost of health care benefits to the full time staff at the college have increased tremendously. Probably by about 80% in the 10 years you are talking about. The cost of utilities has also increased a great deal. In 96 and before, computer labs needing 50+ internet cables and these wireless network features didn't exist. Neither did the opportunity to register "online" or pay for classes online, take the classes online, view college catalogs, schedules, apply for campus jobs, print your unoffical or order your transcript. get emergency campus alerts via your cell phone or campus assigned email and personal webspace. These jobs are professional jobs and require more training and thus cost the college more money in salary and beniefts then the old days of hiring a cheap clerk at $3.00 an hour to write out a receipt for a tution payment in person. These conviences take money to set up and maintain. People don't realize how far we have come from where we were 10 years ago for the price of convience.

Q: Where can I find a list of employers that help pay for college tuition?
I've recently learned that a friend of mine who works for Exxon-Mobile Gas Co. is getting their college tuition paid for through the company. I'm not exactly interested in the exact major he's going for but I am interested in finding out more about how I can do the same thing.

A: Many employers offer some type of educational incentive to their employees. Decide who you would like to work for and in what capacity. Then, go to the company's website and look for their information on educational incentives. Employers do this for two reasons. First, it inspires loyalty in the employee and the training helps to prepare the employee for a higher-level position within the company. Second, these types of scholarships are viewed as philanthrophical and the money spent on scholarships is tax-deductable.

Q: Should I pay my sons junior college tuition or should he pay it?
He is a good kid. He was 19 when he graduated high school. He was a B student and wasnt really into sports or academics, so we just rolled with the flow. He finally decided to go to college in building and construction. He did really well in building and trades and actually took 4 yrs of it in high school. He got awards and did work on the side for his teacher at his house. Now he works full time at a department store and lives on his own with a girl. I think if I did not pay his tuition, he just would not go to college because he could not afford it, so I write the checks and off he goes to school 3 nites a week. I never see a report card or any grade reports, but I assume he is doing good. Should I pay his tuition or make him do it on his own?

A: You should help him out somehow financially. Make sure that he is doing well in school.*

Q: What's the purpose of raising college tuition for out-of-state students?
Also (you can answer both or one...) I have very close family in a state that I want to go to college in. Is there any way to get in-state tuition prices?

A: Raising tuition raises funds. Doing it to out-of-state students is an easy call to make for political reasons. They can't vote so even if they're mad, there's nothing they can really do about it. You need to read the residency rules for each state you're considering. They normally require a year or two of living in that state before they consider you a resident. You can try using your family's address to gain residency if you're still early in high school. However, some schools consider you to be out-of-state if you went to high school in another state, no matter what state you list as your "home".