The Tax Cuts and Jobs Act (TCJA) includes many changes that affect individual taxpayers. But, in terms of tax breaks for higher education, the new tax law generally maintains the status quo, with a few minor tweaks here and there. Here’s the rundown on education-related tax breaks for 2018 and beyond. Read more
Back-to-school season is a good time to review the federal tax breaks that are currently available if you or a loved one will be attending college or graduate school this fall. After all, a higher education degree is one of the biggest investments you’ll ever make.
How much does an advanced degree typically cost? For the 2016-2017 school year, the College Board estimates that the average annual cost (including tuition, fees, and room and board) was $20,090 for in-state students at a public four-year school — and $45,370 for students at a private not-for-profit four-year institution. These estimates don’t include books, supplies, transportation and other expenses a student may incur.