January 26, 2009

Stimulus bill includes education tax credits

Posted in Legislation Affecting Students, Student Loan News, The Financial Aid Process tagged , , , , at 1:04 PM by Joe From Boston

I thought you’d want to know of the proposed tax cuts in the economic stimulus bill currently being floated around the Senate:

-Create an American Opportunity Tax Credit that would provide a $2,500 higher education tax credit that is available for the first four years of college; it would phase out for individual taxpayers with adjusted gross income above $80,000 ($160,000 for couples married filing jointly).

-Allow computers to be included as qualified education expenses in 529 Education Plans.