A report by Education Sector shows how rapidly the federal government has increased its spending on tax credits and deductions for college tuition -- tax breaks that disproportionately help upper-income taxpayers. Financial aid experts have noted that amid many complaints about the exploding costs of the Pell Grant Program, which mostly assists low-income students, relatively little attention has been paid to tuition tax breaks. In addition to documenting the growth of the tax breaks, the Education Sector report urges their elimination.
"At a time when Congress is struggling to fund the Pell Grant program and financially needy students who pursue a higher education are facing mountains and mountains of debt, policymakers need to refocus the government’s resources on its core mission of eliminating the financial barriers that prevent low-income and working-class students from enrolling in and completing college," the report states.
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- Tax credits for tuition growing rapidly
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