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.
Scholarships & Grants. Scholarships and grants (or âgift aidâ) are financial aid awards that you donât have to pay back. Some gift aid is awarded based on merit (the recognition of outstanding academic achievement), and some gift aid is awarded based on your financial need.tonehill funds a variety of grants and scholarships based on need and merit. You may be eligible for a merit scholarship, an athletic scholarship, a need-based scholarship, or some combination.