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.
What is a Grant? Grants are a type of financial aid that does not have to be repaid. Generally, grants are for undergraduate students, and the grant amount is based on need, cost of attendance, and enrollment status. Students must meet eligibility requirements to qualify, and this type of aid can come from multiple sources which include federal government, state government and the college of your choice.