Student Aid and Tax Benefits: Better Research and Guidance Will Facilitate Comparison of Effectiveness and Student Use. Report to Congressional Committees.Report as inadecuate




Student Aid and Tax Benefits: Better Research and Guidance Will Facilitate Comparison of Effectiveness and Student Use. Report to Congressional Committees. - Download this document for free, or read online. Document in PDF available to download.





To assist Congress as it prepares for the reauthorization of the Higher Education Act, a study was undertaken of Title IV aid programs and higher education tax provisions designed to assist students and families. Focusing on the HOPE and Lifetime Learning tax credits. Data from the National Postsecondary Student Aid Study and other databases were used. In the 1999-2000 academic year, it is estimated that the Lifetime Learning and HOPE tax credits provided more than 4 in 10 undergraduate students with benefits that equaled a varying share of tuition and fees charged and Title IV aid received. Some students families had incomes too high to use the credits; others had tax liabilities too low to use the credits or to use the credits to the maximum. Among all dependent students who received the HOPE credit, it equaled, on average, about 20% of the tuition and fees, and for independent students, the HOPE credit equaled about 30% of tuition and fees. Taken together, Title IV student aid and higher education tax credits now assist more than 70% of undergraduate students and families in paying for postsecondary education. Five appendixes contain details about methodology and research, comments from government agencies, and a list of contacts and staff at the General Accounting Office. (Contains 14 tables, 13 figures, and 19 references.) (SLD)

Descriptors: College Students, Federal Legislation, Fees, Higher Education, Information Dissemination, Student Financial Aid, Tax Credits, Tuition

U.S. General Accounting Office, P.O. Box 37050, Washington, DC 20013 (one copy free; additional copies, $2 each). Tel: 202-512-6000; Fax: 202-512-6061; Web site: http://www.gao.gov.









Author: Ashby, Cornelia M.

Source: https://eric.ed.gov/?q=a&ft=on&ff1=dtySince_1992&pg=6796&id=ED469643



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