What are the eligibility requirements to receive a scholarship?
You must earn 300% of the area median income or below as calculated by HUD.
Where can I see a list of the scholarship organizations that service my community?
Coming soon.
Do I get a tax credit for the amount I spend on my child’s tuition?
No, the tax credit is for donations to scholarship organizations, not tuition paid to schools. The donor receives a tax credit whether or not he or she has a child.
Can I earmark my donation to a specific child or school?
A scholarship organization can choose to allow donors to earmark their contribution to a specific school or group of schools, but not to a specific child.
What is the deadline for donations?
Annual deadline Dec. 31st
When can I begin to donate?
January 2027
What is the maximum I can donate and still get a tax credit?
$1700 per taxpayer
I live in a state with an existing scholarship program. How will this help me?
This scholarship tax credit will increase the funding available to scholarship students. Scholarships could potentially be awarded to students who would otherwise not have received a grant under a state’s eligibility guidelines, or it can mean higher scholarship amounts.
How do I apply for a scholarship?
Once the provision takes effect in 2027, families will be able to apply directly to an approved scholarship organization in their state.
What are examples of allowable uses of scholarships?
Any expense allowed for Coverdell accounts including tuition, fees, academic tutoring, special needs services, books, supplies, room and board, uniforms, transportation, computer technology or equipment.