Financial Aid Office Spotlight – Feb. 2015

FAFSA Renewal

Now is the time to think about filing the FAFSA for your students returning to Whitworth.  The priority deadline for returning students is May 1st  which should give you enough time to complete your taxes first. We highly recommend using the IRS Data Retrieval Tool to load your tax information directly into the FAFSA. Please keep in mind this option is available approximately 2 weeks after you filed electronically, or up to 12 weeks if you filed by paper. Speaking of taxes…

Tax Benefits of Higher Education

The 1098s have all been mailed from our Student Accounting Services office unless your student consented to receive an electronic version. In that case, your student can access theirs by logging on to the Pirate Port. The 1098s are located under the Student Account Information tab. Luckily, there are many tax benefits for higher education.  For information regarding how tax credits, deductions and savings plans can help with the expenses for higher education, please visit the IRS website. Federal tax laws require students to report income from financial aid when certain conditions are met (scholarships and grants received for the calendar year are more than the amount of tuition and fees paid).  We have designed this Reporting 2014 Scholarships and Grants Worksheet to assist in determining what financial aid should be reported on the student’s federal income tax return and 2015-16 FAFSA.  Please feel free to review other helpful information under our webpage for parents.

Returning Student Financial Aid Awards

Our office is currently working on sending out new freshman financial aid awards and will begin sending out the returning student awards during the end of April/beginning of May.  Please remind your students to check their Whitworth email for our notification that their award is ready to be viewed on their Whitnet account.  They should also be checking Pirate Port frequently for important announcements from our office as well as from other departments.

Thank you for supporting your student – we know they appreciate YOU!

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This entry was posted in Campus Updates, Parenting College Students, Parents and Families, Staying Connected. Bookmark the permalink.

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