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Tax Cuts for
Educational Expenses |
Recent tax law changes have provided assistance to students
and families by making direct tuition payments and student
loan interest deductible. Certain income criteria must
be met to qualify for these benefits. Generally, these
benefits fall into three categories:
Before School - the tax
regulations allow students and families to establish tax-free
Individual Retirement Accounts (IRAs) for educational
purposes.
While In School - Certain
tuition payments may be deductible, based on your income
level. Further, some withdrawals from IRAs and other
investments may be untaxed.
After School - Some student
loan interest is tax deductible.
The U.S. Department of
Education has published comprehensive information about all of
the recent tax changes. Click here
to view this information.
*As with any tax matter,
you should check with a qualified accountant to help
understand these opportunities and help you learn which
options you may qualify for.
Click here for the next page>>
Information for Graduate
Students
