Other Resources for Financial Aid
All students applying for assistance from Missouri Valley College or federal sources must submit a Free Application for Federal Student Aid (FAFSA). To fill out a FAFSA online, click here. Forms are also available at your high school guidance counselor's office or the Missouri Valley College Financial Aid Office. Check out the Financial Aid Programs.
Savings and Tax Programs
Hope Scholarship Tax Credit
A tax credit is not a tax deduction, but a dollar for dollar credit against taxes. Students must be enrolled at least half time and be in the first or second year of a post secondary program. Only tuition and required academic fees qualify. The taxpayer, the taxpayers spouse or dependents may claim tax credit.
Lifetime Learning Tax Credit
This tax credit is designed to provide financial assistance to college juniors and seniors, as well as graduate and professional adults who want to return to school and update their skills. Only tuition and required academic fees qualify. The taxpayer, the taxpayer’s spouse or dependents may claim tax credit.
Family members, including friends and the child may deposit up to, but not more than $500 per year into an Education IRA in the child’s name for each child under the age of 18. Tuition, required fees, books, supplies and equipment for a required course of study qualify. Room and board charges are allowed for students enrolled at least half time.
Student Loan Interest Deduction
Taxpayers can deduct interest paid on eligible student loans for themselves, their spouses, and/or the dependents. Tuition and fees, equipment, room and board and other college-related expenses qualify.