It's a busy week with finals here. As you will see, there's also a lot of new scholarship opportunities as well as 10 scholarships due this week. Several of those are only for MSOE students and come with PAID SUMMER INTERNSHIPS.

 

Focus on your exams, but if you need a break (or once you're all done- yay!), why not apply to a scholarship?

 

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Added Today

Deadline Extended: Penneco Scholarship - DUE February 28th, 2014

MSOE EE Students: $4,000 Bruno Independent Living Aids Scholarship - DUE March 17th, 2014

MSOE EE & ME Students: $11,500 Helwig Carbon Scholarship - DUE March 17, 2014

Nursing Students: $5,000 Marshfield Clinic Scholarships - DUE March 17, 2014

Current/Prospective Engineering & MIS Students: $2,500 Great Lakes Scholarship - DUE April 5, 2014

 

 

MSOE-Specific Scholarships

Hamilton Family Foundation Scholarship - Due 2-24-14
Saint-Gobain Scholarship - Due 2-24-14
Weimer Industries Business Development Scholarship - Due 2-26-14
Weimer Industries Engineering Scholarship - Due 2-26-14
Thomas J. Stobbs/TLX Technologies Scholarship - Due 3-6-14
WAICU/ATI-Ladish Scholarship - Due 3-7-14
Daniel J. Moceri Scholarship - Due 3-7-14

Bruno Independent Living Aids Scholarship - Due 3-17-14

Helwig Carbon Scholarship - Due 3-17-14

Precision Plus Scholarship - Due 4-1-14



Scholarships due This Week

MSOE EE Students: $2,000 Hamilton Family Foundation Scholarship- DUE TODAY

MSOE students only: Saint-Gobain Endowed Scholarship, DUE February 25, 2014

MSOE Students Only: Weimer Industries Business Development Scholarship, DUE February 26, 2014

MSOE EE, CE, SE, ME Students: Weimer Industries Engineering Scholarship, DUE February 26, 2014

Deadline Extended: Penneco Scholarship - DUE February 28th, 2014

Current or Prospective Business Majors & Engineering Majors: $25,000 Buick Achievers Scholarship - DUE February 28th, 2014

Involved in Community Service/Volunteering? $2,000 Scholarship- DUE February 28th, 2014

Current Nursing Students: $2,000 Scholarship, DUE March 1st, 2014

High School Seniors & College Freshman: Peace Scholarship, DUE March 1st, 2014

Any Engineering Field: $5000 Steinman Scholarship- DUE March 1st, 2014

High School Seniors: $5000 Diversity in Engineering Scholarship - DUE March 1st, 2014


polar bear exams.jpgBest of luck on exams as well as the scholarships you apply for! May the odds be ever in your favor!




Happy Presidents' Day! Or Washington's Birthday, or Abraham Lincoln's Birthday, or just another Monday. If you've been eyeing up a new futon or something, check out all the furniture sales (I don't know why there are big furniture sales today but that's besides the point).

 

As Abraham Lincoln said, "I do not think much of a man who is not wiser today than he was yesterday." You learn things each day, and the next you get to put that knowledge to the test. Today you learned about these scholarship opportunities. What will you do with that knowledge tomorrow?

 

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Added Today

Current or Prospective Business Majors & Engineering Majors: $25,000 Buick Achievers Scholarship - DUE February 28th, 2014

CE, EE, IE, ME students: $3000 AIST Willy Korf Memorial Fund, DUE March 8th, 2014

High School Seniors: USPAACC Scholarships for $2,500 to $5,000- DUE March 14, 2014


MSOE-Only Scholarships

Hamilton Family Foundation Scholarship - Due 2-24-14
Saint-Gobain Scholarship - Due 2-24-14
Weimer Industries Business Development Scholarship - Due 2-26-14
Weimer Industries Engineering Scholarship - Due 2-26-14
Thomas J. Stobbs/TLX Technologies Scholarship - Due 3-6-14
WAICU/ATI-Ladish Scholarship - Due 3-7-14
Daniel J. Moceri Scholarship - Due 3-7-14
Precision Plus Scholarship - Due 4-1-14


Due TODAY

Society of Women Engineers Scholarships

WI High School Seniors: Wisconsin Title I Association Student Scholarship


Best of luck to all who apply!

While we all know that education is a great investment in a person's future, many parents and students may not know of the monetary perks that paying for an education can bring them. Whether you're a brand new tax filer or a seasoned vet, you may not be certain about the different tax incentives that the federal government provides that can help defray the cost of higher education.

These incentives come in two different forms: tax credits and tax deductions. Tax credits reduce the amount of tax you are liable for, while tax deductions reduce the amount of income on which you pay taxes. In this post, we'll go over all of the incentives in both of these categories. More information can be found in IRS Publication 970 (http://www.irs.gov/pub/irs-pdf/p970.pdf).

 

Tax Credits

American Opportunity Tax Credit- Up to $2,500 per student

This credit offsets what you pay for the first four years of higher education by reducing the amount of income tax you pay. This credit is also partially refundable (up to $1,000 can be refunded if your credit is more than you owe in taxes).

Eligibility Requirements:

  • Modified Adjusted Gross Income (MAGI) of $90,000 or less ($180,000 or less for married couples filing a joint return).
  • Have a student that was enrolled at least half-time for one term in 2013 in an eligible program leading to a degree, certificate, or other recognized credential at an eligible school.
  • Claim within the first 4 years of post-secondary education (undergraduate).
  • Student cannot have a drug conviction (possessing or distributing a controlled substance).
  • Must file a tax return to claim the credit (even if you are not required to file taxes).
  • Only the person claiming the student is eligible to claim the credit.
  • You cannot claim this credit if you are claiming the Lifetime Learning Credit or the Tuition and Fees Deduction for the student.


Lifetime Learning Tax Credit- Up to $2,000 per tax return

This credit is available for all types of post-secondary education (helpful to graduate students) and can be used to offset what you pay for tuition and fees, as well as other required expenses (books, supplies, equipment). This credit, unlike the American Opportunity Tax Credit, is non-refundable (meaning the maximum credit is limited to the amount of tax you owe).

Eligibility Requirements:

  • Modified Adjusted Gross income (MAGI) of $62,000 or less ($124,000 or less for married couples filing a joint return).
  • have taken any type of post-secondary education (you don't have to be pursuing a degree or certificate to qualify).
  • Students with drug convictions can still qualify.
  • Must file a tax return to claim the credit (even if you are not required to file taxes) and have some income liability.
  • Only the person claiming the student is eligible to claim the credit.
  • You cannot claim this credit if you are claiming the American Opportunity Tax Credit.

 

Tax Deductions

Tuition & Feed Tax Deduction- Up to $4,000 taxable income reduction

If you are not eligible for the tax credits listed above, this may benefit you. This deduction amount depends on your income and the amount of qualified tuition & related expenses paid for eligible students (tuition, fees, books, supplies, equipment). This is an adjustment to your income, so you can claim this deduction even if you do not itemize deductions.

Eligibility Requirements:

  • Modified Adjusted Gross Income (MAGI) of $80,000 or less ($160,000 or less for married couples filing a joint return).
  • Have a student that was enrolled in one or more courses in 2013 at an eligible institution.
  • Must file a tax return to claim the deduction (even if you are not required to file taxes).
  • Only the person claiming the student is eligible to claim the deduction.
  • You cannot claim this deduction along with a credit for the same student.
  • You cannot claim this deduction if you are married and file taxes separately or if another person can claim you as a dependent on his or her tax return.

 

Student Loan Interest Deduction- Up to $2,500 taxable income reduction

This deduction allows you to deduct interest paid on student loans for yourself, your spouse, or your dependents. This deduction amount depends on your income and the amount of interest paid. This is an adjustment to your income, so you can claim this deduction even if you do not itemize deductions.

Eligibility Requirements:

  • Modified Adjusted Gross Income (MAGI) of $75,000 or less ($155,000 or less for married couples filing a joint return).
  • Made payments on a qualified student loan (used to fund a student enrolled at least half-time in an eligible institution, pursuing a degree, certificate, or similar program).
  • Must file a tax return to claim the deduction (even if you are not required to file taxes).
  • You cannot claim this deduction if you are married and file taxes separately or if another person can claim you as a dependent on his or her tax return.

 

What you'll need:

1098-T

This is a statement from MSOE that will detail tuition & fees that you have paid for the calendar year of 2013. We mail the statement to your permanent address on or before January 31st, 2014.

1098-E (for Student Loan Interest Deduction ONLY)

This is a form sent from the student loan lender to the borrower, detailing the amount of interest paid for the 2013 year. Statements are mailed to the address on file.

 

Question of the day: Are Scholarships & Grants Taxable?

Scholarships, grants, fellowships and other gift aid that you have received in 2013 that are reported on your 1098-T may need to be reported as taxable income in certain circumstances. In general, however, if you are pursuing a degree, certificate, or program of training toward gainful employment, and used the funds to pay for tuition, fees, or required books/supplies/equipment, then they should not be counted as taxable income. More information on this is found in Publication 970.


Love is in the air. And by love I mean arctic winds, snow, and a general pleading to the Weather Gods for warmer temperatures.

 

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Maybe actual love is in the air for you this week with it being Valentine's Day on Friday and all. No matter your romantic status, I think you'll enjoy the photos in this post as well as the scholarships available. Show some self-love this Valentine's Day and give yourself the best gift of all: free money and a less stressful education!

 

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Added Today

$2,000 Community Service/Volunteering Scholarship- DUE February 28th
Current Nursing Students: $2,000 Scholarship- DUE March 1st
High School Seniors & College Freshman: Peace Scholarship- DUE March 1st
College Students: $20,000 NIH Scholarship- DUE March 3rd
WI High School Seniors: Student of Integrity Scholarship- DUE March 3rd
MSOE ME Students Only: $3000 Thomas J. Stobbs/TLX Technologies Scholarship- DUE March 6th
MSOE ME Students Only: $4,000 WAICU/ATI-Ladish Scholarship - DUE March 7th

 

eminem.jpgMSOE-Only Scholarships Available

Snap-on Scholarship - DUE TODAY
Northern Waters Scholarship - Due 2-13-14
Hamilton Family Foundation Scholarship - Due 2-24-14
Saint-Gobain Scholarship - Due 2-24-14
Weimer Industries Business Development Scholarship - Due 2-26-14
Weimer Industries Engineering Scholarship - Due 2-26-14
Thomas J. Stobbs/TLX Technologies Scholarship - Due 3-6-14
WAICU/ATI-Ladish Scholarship - Due 3-7-14
Daniel J. Moceri Scholarship - Due 3-7-14
Precision Plus Scholarship - Due 4-1-14

 

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Due This Week

DUE TODAY (2-10-14): MSOE Students Only: $5,000 Snap-on Scholarship
DUE TODAY: CVE Students: $3,000 Scholarship - DUE February 10th, 2014
MSOE BioE Students Only: Northern Waters Scholarship - DUE February 13th
Incoming Freshman: Are you tall? Win a $1,000 Scholarship! DUE February 15th, 2014
Interested in NDT? $2,500 Robert B. Oliver Scholarship- DUE February 15, 2014
Sophomore Engineers: $2500 Scholarship DUE February 15, 2014
American Welding Society Scholarships: DUE February 15, 2014
AFA Teens for Alzheimer’s Awareness College Scholarship- DUE February 15th
High School Seniors: $2,000 APCA Scholarships, DUE February 15th
Current & Prospective Nursing Students: Two Scholarships from the DAR- DUE February 15, 2014


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Best of luck to all who apply!


And now, your rewards for reading all the way through:

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For the first time that I can remember in my life, I was actually bored watching a Super Bowl. I mean, even the commercials weren't that great this year. So, you're probably looking for some excitement this Monday. Well, thanks to me, you've got it! Check out these scholarships and look at all of the MSOE one's we're sponsoring right now too. Many come with internships, and what's more exciting than getting free money for school AND earning a paycheck?

 

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Added Today

AFA Teens for Alzheimer’s Awareness College Scholarship- DUE February 15th

High School Seniors: $2,000 APCA Scholarships, DUE February 15th

Current & Prospective Nursing Students: Two Scholarships from the DAR- DUE February 15, 2014

WI High School Seniors: Wisconsin Title I Association Student Scholarship, DUE February 17th

MSOE EE Students: $2,000 Hamilton Family Foundation Scholarship- DUE February 24th

All Grades, All Majors: $1,000 Frame My Future Scholarship- DUE March 5, 2014

MSOE Incoming Engineering Students: $5,000 Daniel J. Moceri Scholarship- DUE March 7

MSOE Incoming ME Students ONLY: $5,000 Precision Plus Scholarships, DUE April 1, 2014


All MSOE-Specific Scholarships

Snap-on Scholarships - DUE THIS WEEK (2-5-14)

Northern Waters Scholarship - Due 2-13-14

Hamilton Family Foundation Scholarship - Due 2-24-14

Saint-Gobain Scholarship - Due 2-25-14

Weimer Industries Engineering Scholarship - Due 2-26-14

Weimer Industries Business Development Scholarship - Due 2-26-14

Daniel J. Moceri, '76 Scholarship - Due 3-7-14

Precision Plus, Inc. Scholarship - Due 4-1-14

 

Due This Week

MSOE Students Only: $5,000 Snap-on Scholarship, DUE February 5th, 2014


Best of luck to all who apply!