Paul claimed a $50,000 deduction in 2015 for carrying charges. Because this deduction is more than $40,000, Paul may have to pay minimum tax. To find out, he should complete Form T691, Alternative Minimum Tax.
National SMART Grant. The National Science and Mathematics Access to Retain Talent (SMART) Grant is available to undergraduate juniors and seniors who already qualify for the Pell Grant. However, itâs estimated that only 40% of those that qualify for the Pell Grant will also qualify for the National SMART Grant. The reason for the disparity is simple; the educational prerequisites for the SMART grant are stringent.
The Federal Pell Grant is the largest need-based college grant program, awarding more than $30 billion in grants each year to more than 9 million students.