Tuition seems to rise each year at our colleges and universities and there is no end in sight.
Through a tuition tax credit, we can ensure that families can recoup at least a percentage of what they have paid out in tuition costs through a Personal Income Tax credit. Our children must compete in an increasingly technologically-advanced global economy, which means they must seek higher education to qualify for jobs. Unlike grants and financial aid, this bill is targeted to every student and family, no matter what their income level. The bill would allow students, spouses of students and parents of students to claim a credit for tuition paid, if they pay more than half of the student's tuition each year. Also, it would allow parents to claim a credit for investments made to the state's Tuition Account Program, which allows parents to save for college and career schools for tomorrow at today's prices.