Types of Financial Aid at Clemson

First-Year Recruiting Scholarships

Named Scholarship Programs

Transfer and Continuing Student Scholarships

• South Carolina Tax Credit

  To help ease the financial burden for South Carolina college students and their families, the South Carolina General Assembly has recently increased its income tax credit for eligible students for tuition paid to South Carolina colleges and universities.

  To claim up to $1,500 in tuition tax credits, you must file a Form SC 1040.

  When preparing the South Carolina income tax return, you must complete a Form I-319 Tuition Tax Credit. This form is included with all state individual income tax booklets. To determine if you are eligible and find more information about the tax credit, please visit the South Carolina Department of Revenue Tuition Tax Credit website.

• Federal Tax Credits
  There are currently two types of federal tax credits for families to offset tuition costs. These tax credits reduce the amount of federal income tax families must pay. Middle- and lower-income families who do not receive enough gift aid to cover tuition payments will benefit.
• American Opportunity Tax Credit
  The American Opportunity Tax Credit is valued up to $2,500 per tax year, per eligible student, for the first four years of postsecondary education. Forty percent of this credit may be refundable.
• Lifetime Learning Tax Credit

  The Lifetime Learning Tax Credit is up to $2,000 per year, per family, for an unlimited number of years. This nonrefundable credit varies according to family income, tuition costs and amount of gift assistance received.
  
  To be eligible, a taxpayer must file a tax return, must owe taxes and must claim the student as an exemption (self, spouse or dependent). Additionally, married filers must file jointly. Tax filers should contact their tax adviser for details. Additional information is available in Publication 970 at IRS.gov.