CHAPTER 3 Education Costs
No one doubts the importance of education—for ourselves, our children, and our grandchildren—but obtaining it can be pricey. According to the Scholarship Workshop, the average cost of one year in a public university (in-state) for 2017–2018 is $35,674 and for a private college is $76,855, and the cost of higher education is increasing at nearly 7% annually (compared with an overall inflation rate of about 2% for 2017). Fortunately, the tax law provides many incentives to help you save for education and to pay for it on a tax-advantaged basis.
This chapter explains the tax deductions, credits, and other breaks you can claim with respect to education costs. For more information, ...
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