The priority deadline for 1999–2000 financial aid applications is March 2, 1999. To apply, you must submit a Free Application for Federal Student Aid (FAFSA), which determines your eligibility for Federal Direct Student Loans, work-study awards, parent grants, and other need-based programs. There are now three ways to submit a FAFSA:
1. If you submitted a 1998–99 FAFSA, the U.S. Department of Education may have already sent you an Electronic Access Code (EAC) that permits you to submit your Renewal FAFSA via the Internet. If you received your EAC, go to the FAFSA Web site (www.fafsa.ed.gov) and apply now!
2. If you did not receive an EAC, you may still submit a FAFSA via the Internet using the same Web site. The only difference is that, without an EAC, you must print out and mail a signature page.
3. You may pick up a paper FAFSA from the rack outside 201 Sproul Hall and mail in your application.
Whatever method you use, it is highly recommended that you submit your FAFSA by the March 2 priority deadline so that any problems with the data or additional requirements can be resolved over the summer and your loan funds can be disbursed at the beginning of the fall 1999 semester.
Tip: Remember to insert Berkeley’s code number (001312) on your application to ensure that the Department of Education sends your FAFSA data to Berkeley’s Financial Aid Office. For more tips, pick up a FAFSA guide from the rack outside 201 Sproul Hall, or visit the Financial Aid Office Web site (uga.berkeley.edu/fao/guide.htm).
New Tax Laws
The new Lifetime Learning Credit (part of the Taxpayer Relief Act of 1997) will provide a significant tax credit to some graduate students. You may be eligible if you paid your fees from your own resources or with a student loan. You cannot claim this credit if your fees were paid by a fellowship or fee remissions.
In January, the University will send you a 1098-T form that lists the qualified fee payments and gift aid that you can use to calculate your eligibility for this credit.
For more information (the credit has many restrictions), consult your tax accountant or see the Taxpayer Relief Act information on the Graduate Division Web site. While at that site, you may also want to read about the Hope Scholarship Tax Credit, which applies to undergraduate study, and the new student loan interest deduction that may save you money after you leave school and begin repaying your student loans.
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