To be “matriculated” means that you have applied for and have been accepted into a program of study toward a specific degree. If you are in a Graduate Certificate program--whether you attend classes on campus, at an extension site, or online--you are non-matriculated. (Also, some students attending part-time also are non-matriculated.) You can confirm whether you are matriculated by contacting our Admissions Office. Until you are matriculated, you are not eligible for most types of financial aid; however, you may be eligible for a private loan or federal tax credits. Read on to learn more.

Private Loans

Because not all private lending institutions require that loan recipients be matriculated, you may be able to qualify for a private loan. (Be aware that loans from private lenders require credit approval and honor specific lender rules.)

Federal Tax Credits

In addition to being eligible for certain private loans, non-matriculated students may be eligible for the following two federal tax credits:

• The HOPE Scholarship Tax Credit - If you are a student in your first two years of college, you can claim a tax credit equal to 100% of the first $1,000 spent on tuition plus 50% on your second $1,000 spent. Essentially, you can claim a $1,500 credit on your tuition. The credit is only applicable if you are in an eligible degree program, enrolled at least half time, and have no prior felony drug convictions. A family can receive one credit per student.

Eligibility for the credit is also limited to taxpayers with a modified adjusted gross income of $50,000, or $100,000 on a joint return. Taxpayers with a gross income falling between $40,000 and $50,000, or between $80,000 to $100,000 on a joint return, are eligible for a smaller credit.

• Lifetime Learning Tax Credit - If you are an adult who wants to go back to school or a college junior/senior, or someone looking to earn a graduate degree, you can apply for this tax credit. The credit is limited to 20% of the first $10,000 you spend on education, meaning that the highest credit that can be granted is $2,000. You do not have to pursue a degree in order to receive the credit; you must only be currently enrolled in a course. Unlike the HOPE Scholarship Tax Credit (above), which can be claimed per student, this credit can be claimed only per family; however, you can claim for an unlimited number of years; that is, you can keep going back to take classes and continue claiming until you have received a $2,000 credit. The same income limits on the HOPE Scholarship Tax Credit apply to the Lifetime Learning Tax Credit.

Taken together, the HOPE Scholarship and Lifetime Learning Tax Credits are excellent ways to help pay for school. For in-depth information, check Publication 970 on the IRS website.