Students whose household income has decreased due to Covid -19:
Financial aid administrators (FAA) have statutory authority to use professional judgment to make adjustments on a case-by-case basis to the cost of attendance or to the data used in calculating the EFC to reflect a student’s special circumstances, such as using the prior year income or the projected current year income. The use of professional judgment where students and/or their families have been affected by COVID-19 is permitted, such as in the case where an employer closes for a period of time as a result of COVID-19. In making professional judgment determinations, FAAs must obtain documentation and retain it in each student’s file. This documentation must substantiate the reason for any adjustment. Examples of documentation we may request are: prior year tax forms, current year income statements, such as pay stubs and unemployment compensation determinations or other items based on individual circumstances as determinations must be made and documented on a case-by-case basis. Students/families finding themselves in this situation should contact our office. We can make a determination if you meet the criteria for the adjustment and provide you with the appropriate forms for reconsideration for federal and SC state aid if applicable.
SC Tax Information:
To help ease the financial burden for South Carolina college students and their families, the South Carolina General Assembly has created an income tax credit for tuition paid to South Carolina colleges and universities. To claim the credit, a Form SC 1040 must be filed. When preparing the South Carolina income tax return, Form I-319 Tuition Tax Credit must be completed. This form is included with all state individual income tax booklets. For more information about the tax credit, please visit the South Carolina Tuition Tax Credit website.