Student Financial Aid Resources

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Tools for smart financial decisions

Below, you will find essential tools and information to support responsible financial decision-making throughout their academic journey. Resources include guidance on avoiding financial aid scams, understanding loan repayment and tuition assistance options, returning unneeded loan funds, and navigating tax-related obligations. Financial literacy materials are also available to help students strengthen their money management skills during and after their time at MUSC.

Tax Resources

The following tax resources may be helpful for students seeking general guidance on how their educational expenses and financial aid may affect their tax filings. While not comprehensive, these tools offer a starting point for understanding available tax resources related to higher education.

Federal Tax Credits

South Carolina Tax Credits
SC Tuition Tax Credit

Tax Deductions

Schools send the 1098-T form to any student who paid “qualified educational expenses” in the preceding tax year. Students may download the information from Heartland ECSI annually or contact the Bursar’s office for assistance in obtaining the form.

IRS Tax Benefits for Education: Information Center

The federal government offers tax incentives when you or your parents pay for college through tax credits (direct reduction of tax liability) and tax deductions (reduction of the amount of income on which you pay taxes), if you meet certain conditions. While MUSC cannot provide you with tax advice, we urge you to contact the IRS or your personal tax adviser to determine if you are qualified to claim these tax credits and deduction.

Empower your financial future

Take control of your financial journey with MUSC's Office of Student Financial Literacy. Our resources and personalized mentoring are designed to help you manage debt, build credit, and plan for a secure future. Start making informed financial decisions today.

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