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Higher Education Tax Benefits: Brief Overview and Budgetary Effects

This report provides an overview of the higher education tax benefits that are currently available to students and their families. The report contrasts higher education tax benefits with traditional student aid, presents a history of higher education tax policy over the past 60 years, summarizes key features of the available tax benefits, and provides Joint Committee on Taxation (JCT) estimates of revenue losses resulting from individual tax provisions. A summary is contained in Table 1 and provides information on various aspects of each tax benefit including the type of benefit (credit, deduction, etc.), the annual dollar amount of the benefit, what expenses qualify for the benefit, what level of education the benefit can be claimed for, income levels at which the benefit phases out, and any aspects of the benefit which are expiring during the 112th Congress. Table 2 contains estimates of the annual forgone federal revenue attributable to each provision.

# FILE NAME Document Date Order ID: Number of Pages PRICE
1 R41967.pdf Aug 24, 2011 R41967 9 $7.95 ADD TO CART

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