Word: tuitions
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Dates: during 1970-1979
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Both the House and the Senate approved versions of the tuition tax credit this summer which would grant an income tax credit of up to $250 this year to college students or their parents and would raise the maximum amount to $500 in a few years...
...parents of students in private and parochial elementary and secondary schools. The Senate removed this provision from its version of the credit in the midst of criticism that it would strike a death-blow to the already shaky public school systems and that a credit for parochial school tuition was possibly unconstitutional...
Critics of the tax credit say that too much of its benefits would go to those who do not need tuition assistance. A Congressional Budget Office study released last January shows that while almost half of the money for the tax credit would go to families in the $10,00 to $25,00 range, as much as 37 per cent would go to those earning over that amount and only 13 per cent to families earning less. The Opportunity Act provides bigger grants to a more narrowly-defined group. Sixty-four per cent of the money added to the BEOG...
...Jerrold Gibson '51, director of the University's office of fiscal services, says the Opportunity Act would benefit Harvard students more than the tax credit because students at high-cost schools like Harvard are more apt to borrow money to finance their tuition payments and therefore need the expanded loan program. Also, a $500 tax credit hardly makes a dent in a Harvard term-bill whereas the different grant and loan programs can provide more meaningful amounts of aid for those students eligible...
Gibson says "some of the bloom is off the rose of the tax credit" as a result of a recent Roper Organization survey that shows that given a choice between expanded grant and loan programs and tuition tax credits, people prefered the expanded programs. A New York Times-CBS poll and a Gallup poll show, however, that the tax credit is more popular than expanded grants programs...