Tuition Tax Credit


Also found in: Acronyms.

Tuition Tax Credit

Any direct, dollar-for-dollar reduction in one's tax liability based on tuition paid for higher education. Common examples include the Hope Tax Credit and the lifetime learning credit.
References in periodicals archive ?
Montana's Department of Revenue did not allow religious schools to participate in the state's tuition tax credit program because state officials wanted to honor Montana's constitution, which contains a clause that protects freedom of conscience of Montana residents by ensuring that tax revenues can't be diverted to fund religion.
There is not much agreement on the original or current purpose of education and tuition tax credits.
Tuition tax credit opponents argue the program siphons funding from public schools, and that losing a few students does little to reduce a public school's operating costs but has a big impact on the funding it receives.
The estimated that more than 100,000 families or individuals in Oregon would be affected by the loss of the tuition tax credit.
The Alliance for School Choice, an umbrella advocacy organization, reports that there were 191,000 students in 20 voucher and tuition tax credit programs in about a dozen states in 2010-11.
3 INVEST IN tuition tax credit programs called Hope and Lifetime Learning tax credits.
For example, if a taxpayer has a precredit tax liability of $2,000 and a tuition tax credit of $1,500, the taxpayer would pay a tax of $500.
This year, the President and Republican congressional candidates have revived the idea, proposing a voucher demonstration program and tuition tax credit.
The 1965 college tuition tax credit proposal was estimated to cost up to $5 billion annually (23).
The Michigan plan, promoted by ultraconservative foundations and Catholic church officials, would not only lock the state into a goofy voucher plan but also allow the legislature to create a tuition tax credit plan that could devastate the state's finances and public schools.
Carter refuse to help parents [of private and parochial elementary and secondary school pupils]," said Reagan, "but he played a major role in defeating the tuition tax credit bill when it was before the Senate.