The United States Congress has created a number of tax credits, tax deductions, and savings vehicles for higher education expenses. Details about these tax benefits are provided below:
Tax Benefit Guides
NASFAA's Education Tax Benefit Guide and the IRS brochure "Students and Parents - Why Form 1098-T is Important to You" provide details for students and families about tax credits and deductions to help lower the cost of higher education.
Important Tax Information
There are also favorable tax benefits associated with flexible IRAs and employer-provided tuition benefits. EWU staff members are not authorized to give tax advice; however, further information on all of these programs can be obtained from the following sources:
- a professional tax advisor
- IRS Publication 970
- Internal Revenue Service at 800.829.1040
- Internal Revenue Service web site
The GET Program
GET is a prepaid tuition plan that allows Washington families to buy credits at current tuition rates for use in the future. For further information, please call 800.955.2318 or visit the GET web site.