Home
| Career Contents
| Employer Contents
| Contact Us
|
|
Financing Education and Career Training
Do you have a career or training plan you want to pursue, but you don't have the financial resources to get there? Don't give up! This section will guide you and your family, if applicable, to many available funding resources that may offer help. Contents
The following agencies may provide vocational funding assistance to qualified and eligible clients.
Vocational Rehabilitation: Contact your local county office. Oregon Vocational Rehabilitation Division Washington State Division of Vocational Rehabilitation Vocational Rehabilitation Division - State Listings
Commission for the Blind: Oregon Commission for the Blind Washington State Department of Services for the Blind Commission for the Blind - State Listings
Developmental Disabilities Services: Multnomah County Developmental Disability Services Oregon Office of Developmental Disabilities
Washington State Division of Developmental Disabilities
Veterans Vocational Rehabilitation: Oregon Department of Veterans Affairs Washington State Department of Veterans Affairs Veterans Vocational Rehabilitation and Employment Services - State Listings
Contact your college or career training school for further information about these and other possible financial aid programs available.
Federal Financial Aid: The Student Guide (Grants, Loans, Work-Study)
Federal Financial Aid: Audio Guide
Full-time members receive a living allowance to help cover
basic expenses and health care. After a term of service, Americorps
members receive an
Toll-free numbers for assistance and online benefit forms are
provided at the
The following web sites provide helpful links to state programs and resources.
State Grant Agencies: Student Financial Aid and Higher Education - State Listings
State Guaranty Agencies - State Listings
Education Resource Organizations Directory - State Listings
Back to Top - State Assistance
Be sure to check with the Internal Revenue Service and your State Treasurer's Office for current information as changes do occur!
Family Savings Plans
The 529 is named for the corresponding section in the IRS code and is sponsored by individual states. 529s allow participants to invest money toward higher education expenses. Money is invested in a portfolio of mutual funds administered by the state or an outside financial institution. As of January 1, 2002, earnings are tax-free provided the money is used for qualified college expenses. Some states allow participants to deduct contributions from state taxes up to a certain amount, while a few states offer unlimited tax deductions. Contact your State Treasurer's Office for further information. For state listings see: State Prepaid Tuition Programs and College Savings Plans State College Savings Plans Overview
State Prepaid Tuition Programs let participants lock in current tuition levels. Prepaid plans are often limited to a certain number of schools and apply only to tuition, not for room, board, and other expenses. Contact your State Treasurer's Office for further information. For state listings see: State Prepaid Tuition Programs and College Savings Plans
These are college-funding accounts in the child's name aimed to reduce tax amounts if funds were invested in the parents' name. Earnings can be taxed, unlike 529s that are tax-free. Note: As account funds are in the child's name, the child entering college may be less qualified for financial aid programs when financial aid formulas are calculated as the funds are controlled by and in the student's name, not in the parent's name and control.
This is the new name for the old Education IRA. As of 2002, participants may now contribute up to $2,000 (up from $500) annually to the tax-free account toward paying qualified educational expenses. Beginning in 2002, elementary and secondary school (pre-college) educational expenses qualify. The IRS sets income limitations for participation. Contact the Internal Revenue Service for further (and current) information.
Tax Incentives
As of 2002, the exclusion for employer-paid educational assistance is now extended to both college undergraduate and graduate education. That means if your employer pays your college expenses, you can get the educational benefit tax-free. For more and current information, contact the Internal Revenue Service.
The Treasury Department's Education Bond Program allows interest to be completely or partially excluded from Federal income tax when the bond owner pays qualified higher education expenses at an eligible institution or state tuition plan in the year the bonds are redeemed. The following web site details eligible bonds, requirements, eligible institutions, qualified expenses, and income limitations. See: Savings Bonds for Education
As of 2002, the income range for eligibility for the student-loan federal tax deduction has increased. Also, you can now get the tax deduction on interest paid on a qualifying loan no matter how long it takes you to pay off the loan. (There used to be a 60-month limit). Contact the Internal Revenue Service for further and current information.
As of 1998, taxpayers may be eligible to claim a Hope Scholarship Credit against their Federal income taxes for qualified tuition and related educational expenses paid annually for each student. The student must be enrolled at least half-time in one of the first two years of postsecondary education, and must be enrolled in a program leading to a degree, certificate, or other recognized educational credential. The amount that can be claimed for each student is generally equal to: 1) 100 percent of the first $1,000 of out-of pocket expenses, plus 2) 50 percent of the next $1,000 of out-of-pocket expenses. Thus, the maximum credit a taxpayer may claim for each student per year is $1,500. Taxpayers must meet modified adjusted gross income requirements to qualify. Contact the Internal Revenue Service for further and current information.
As of 1998, taxpayers may be eligible to claim a Lifetime Learning Credit against their Federal income taxes. The Lifetime Learning Credit can be claimed for qualified tuition and educational expenses paid for students enrolled in eligible institutions. Through 2002, the amount that can be claimed as a credit is equal to 20 percent of the first $5,000 of out-of-pocket expenses for all students in the family. After 2002, the credit amount is equal to 20 percent of the taxpayer's first $10,000 of out-of-pocket qualified tuition and related educational expenses. Thus, the maximum credit a taxpayer may claim for a taxable year is $1,000 through 2002, and $2,000 thereafter. The amount that can be claimed is based on the taxpayer's modified adjusted gross income. Contact the Internal Revenue Service for further and current information.
Back to Top - Family Savings and Tax Incentives
Contact individual disability organizations to inquire about scholarships available. The following is only a partial listing!
Scholarships and Awards Available to Students with Disabilities National Federation for the Blind Financial Aid for Students with Disabilities Alexander Graham Bell Association for the Deaf Scholarships and Financial Aid - Students with Disabilities The ELA Foundation - Scholarships for Women with Physical Disabilities Mays Mission Scholarship Program for Individuals with Physical and/or Mental Disabilities Scholarships for People with Disabilities Scholarship Opportunities: Services for Students with Disabilities - Oregon State University Disability Resources: Financial Aid, Scholarships, and Fellowships for Students with Disabilities
Book: Financial
Aid for the Disabled and Their Families This book is updated every two years. The book is available from Amazon.com, but you might want to check to see if the book is available at your school or local library, your school's Career and Counseling Department, or your college's Disabled Student Services Office.
The following web sites will connect you to helpful databases and links!
Financial Aid Listings by Major Oregon State Scholarship Commission
Non-Oregon
Residents: If you don't live in Oregon, you can locate your Oregon Scholarship Programs - Private Agencies
FinAid! The Smart Student Guide to Financial Aid
Peterson's Education Center: Financing Education
College Aid Sources for Higher Education
Back to Top - General Scholarships
Community Foundations: The Oregon Community Foundation
College Foundations: Colleges and universities often offer scholarships to students attending the institution. Contact the college's Foundation Office or Financial Aid Office for scholarship information.
Business Foundations: Businesses that have their own Foundation may offer scholarship programs. Check with individual companies.
Many local community service organizations offer scholarships - or may consider awarding a scholarship! Contact your local community service organizations to inquire about scholarships possibly available. Community service organizations are organizations such as:
|
|
Home | Career Contents | Employer Contents | Contact Us | Disclaimer |
