A major part of the bill is a $13.8 billion tuition tax credit boost called the American Opportunity Tax Credit. This tax credit reimburses 100 percent of the first $2,000 of educational expenses for lower income students. For the next $2,000, students will receive a 25 percent reimbursement. In short, lower income students will receive $2,500 in education reimbursements per year.
The bill also features other benefits for low-income students. Families that do not earn enough to pay income taxes can receive a $1,000 education refund.
Sunday, September 6, 2009
$2500 tuition tax check
Did you know we, the taxpayers, are funding $2500 for tuition tax credits? This is all part of the administration's effort to make transportation, housing, health care and refrigerators basic rights guaranteed under the Constitution of the United States. Of course, this would be in addition to other funds available and, of course, they don't have to be paid back so certainly, those who take advantage of these funds will really appreciate receiving them and, for sure, will finish their education.
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