University of Virginia Library

Tax Relief

Rising college costs, added to the increasing
demand for a college degree in most
careers, means that a tremendous financial
burden must be borne by the parents of
college students. Anyone who attends the
University knows this. They know as well that
the burden is especially hard on those families
which make enough money to keep them out
of the scholarship aid range but not enough to
afford the cost of college without sacrifice.

As a result, there has been agitation in
recent years to allow parents or students to
deduct college expenses from their taxable
income. Such a tax provision has finally seen
the light of day. The Senate added an
amendment to the tax reform act now in
Congress which would allow those paying for
college tuition to deduct all or part of it on
the following basis: of the first $200, all of it
is deductible; of the next $300, 25 per cent is
deductible; of the next $1,000 or less, five per
cent may be deducted. Only tuition and
essential fees are included; there are no
deductions for money spent on room and
board.

The House didn't pass this provision when
it voted on tax reform. So the fate of the plan
is in the hands of a joint House-Senate
Conference Committee. Support for it, in the
form of letters to Senators and Congressmen
is crucially needed. There are few actions of
government which have as much direct
bearing on the college student and his family;
there are few things that could be more
profitably lobbied for. So write to your
Congressmen and tell them you support
Section 915 of H.R. 13270. It might even do
some good.