Alternative Financing Options
Explore the options in funding your education.
Alternative Ways to Fund Your College Education
While the typical method of paying for college is submitting a , federal loans aren’t the best option for everyone. In some cases, federal student aid may not cover all the expenses you need, and some people may not qualify at all. And of course, government-funded loans have to be paid back, and interest rates aren’t always favorable to the recent college grad.
If you’re worried about paying for college and want to explore some options outside of federal student financial aid, Alliant can help. From scholarships to public service opportunities and even tax credits, we’ve rounded up information on a number of alternative financial aid opportunities that can help you pay for school
Tax Credit Options
Although it might seem like a small option, don’t overlook the ability of tax credits to help fund your higher education. Unlike deductions, which reduce the amount of taxable income, tax credits reduce the actual amount of income tax you pay each year. Two tax credits are available to help offset the cost of higher education:
- American Opportunity Credit
- The offers up to $2,500 per eligible student and can be claimed for the first four years of higher education. If the credit brings the amount of taxes that you owe down to 0, up to 40% of the remaining credit ($1,000) can be refunded to you. To qualify for the credit, your household income must be less than $80,000 if filing individually, or $160,000 if filing jointly with a spouse.
- Lifetime Learning Credit
- The is worth up to $2,000 and can be used for undergraduate or graduate degree programs. Unlike the American Opportunity Credit, this tax credit has no limit on the number of years you can claim it. To qualify for the credit, your household income must be $52,000 or less if filing individually, or $104,000 or less if filing jointly with a spouse.
Federal Work-Study Program (FWS)
is an employment program largely funded by the federal government and supplemented by employer contributions to complement and reinforce student employees’ educational programs and career goals. The goals of FWS are to help students cover their educational expenses, encourage participation in community service activities, and instill a sense of social responsibility and commitment to the community.
If you are eligible, you will be awarded based on the availability of FWS funds. Eligibility is based on your financial need, as determined by your Student Aid Index (SAI) from your FAFSA application.
FWS Requirements
- Complete a Free Application for Federal Student Aid (FAFSA).
- Have a Student Aid Index (SAI) below $10,000.
- Complete an (located on the student hub).
- Enrolled at least half-time* at vlog.
- Have financial “need” available in their Cost of Attendance budget.
*.
Under FWS, students are employed in part-time jobs (averaging 10–20 hours per week) on campus or at other nonprofit agencies to help cover a portion of their cost of attendance. Doctoral extension students are eligible to work under FWS if they are enrolled at least half-time (three credits).
Students may earn up to the maximum amount specified in their financial aid package, but the actual amount earned depends on the student’s employability, class schedule, and the number of hours worked. FWS earnings are considered taxable income and must be reported as such.
On-Campus FWS Opportunities
Alliant students under FWS can apply for the following two on-campus positions*:
| Student Assistant | Teaching Assistant |
|---|---|
| Perform administrative duties | Assist faculty with teaching or teaching-related duties |
| Data entry, filing, copying, answering phones and emails | Facilitate labs |
| Assist students with general questions | Evaluate and grade assignments, exams, and papers |
| Assist with events (set-up, break-down) | Record attendance and grades |
| Process payments | Develop, update, and distribute course materials |
| Keep office hours to help students in the course |
On-campus FWS restrictions:
- Maximum of 25 hours per week
- FWS students’ work week is Monday through Saturday
- A maximum of two positions held at one time
- Work hours only outside of the student’s scheduled class times
Off-Campus Community Service FWS Opportunities
Each year, at least 7% of Alliant’s FWS allocation must be used for community service opportunities. Alliant encourages students to investigate off and on-campus community service or non-profit employment, which may include:
- Health care, childcare, literacy training, education (including tutorial services), welfare, social services, transportation, housing and neighborhood improvement, public safety, crime prevention and control, recreation, rural development, and community improvement.
- Support for students (other than for Alliant’s own students) with disabilities.
- Activities in which an FWS student serves as a mentor for tutoring, supporting educational and recreational activities, or counseling (including career counseling).
Although vlog has contracts with several organizations, we encourage students to contact our Federal Work Study office if there is a specific non-profit that they would like us to contact.
University Positions*
Alliant students who are unable to apply for Federal Work-Study (FWS) or who are not eligible for FWS funding may still have opportunities for student employment. Available positions funded through university departments can be explored through the Office of People and Culture. Hiring supervisors who wish to employ a student using departmental funds must initiate the hiring process through the Office of People and Culture
*We strongly encourage students to apply for the Federal Work Study (FWS) program first, as it enables Alliant to hire more students than it can with university funds alone.
Questions?
For any additional questions or information on vlog’s Federal Work Study program, please visit the . Students can view FWS job opportunities and Frequently Asked Questions (FAQs).
Veteran Benefits and Military Assistance
Learn more about resources for veterans, active duty military, reserve, National Guard, and military-affiliated students.
Other Third-Party Payors
- Department of Rehabilitation (DOR)
- To qualify for DOR, a student will need to provide for every semester/term the student has financial backing.
- AmeriCorps: Corporation for National and Community Services
- To qualify, students must sign into their account and follow the steps to request their award for Alliant. Once the request is completed, a copy will be sent directly to Alliant for approval. View the .
- Employer Tuition Assistance, Foreign Embassy Funding, Other Direct Payments
- To qualify, a letter of financial guarantee must be provided by the third-party sponsor prior to the beginning of the semester. The student name, timeline guarantee, amount payable, invoice address or email, and contact information must be included.