Education officials support Governor’s tuition tax credit
Release date: February 8, 2005
Contact: Kitty Armstrong McAllister, Kentucky Education Cabinet
Phone: (502) 564-6606, ext. 146
Contact: Sue Patrick, CPE
Phone: (502) 573-1555, ext. 308
(Frankfort, Ky) Education officials President Tom Layzell of the Kentucky Council on Postsecondary Education and Secretary Virginia G. Fox of the Kentucky Education Cabinet offer support for the tuition tax credit as an educational and economic incentive in the proposed Tax Modernization Plan, announced by Governor Fletcher on February 1, during the 2005 State of the Commonwealth address.
“Kentucky gets high marks for affordability, but there are warning signs on the horizon. The proposed tuition tax credit is an important strategy for addressing the issue of affordability, and it will encourage more Kentuckians to pursue undergraduate degrees. As enrollment grows, we are going to need more revenue to serve the needs of these students. We must also renew our commitment to funding our need-based financial aid programs to ensure our lowest income citizens have equal access to postsecondary education,” stated Layzell.
“The policy consequences for this type of financial incentives are clear. It encourages more Kentuckians to attend our colleges and universities. Tuition tax credits are another useful tool to lift the burden of educational costs,” Fox commented.
As proposed in the Governor’s Tax Modernization Plan, the tuition tax credit of up to $500 is for each student going to Kentucky colleges and universities.
For more details on the tuition tax credit, go to http://governor.ky.gov/, then click on “JOBS for Kentucky,” then click on the “JOBS Briefing Book,” page 13. (30)
The Kentucky Education Cabinet coordinates learning programs from P-16, and manages and supports training and employment functions in the Department for Workforce Investment. For more information about our programs, visit http://www.educationcabinet.ky.gov/ or http://www.workforce.ky.gov/ or call 502-564-6606.
Kentucky's Postsecondary Education System encompasses nine public institutions and numerous independent institutions and Kentucky Adult Education. The system represents 229,061 students, 538,866 Kentucky alumni and 275,108 GED recipients. When Kentuckians earn postsecondary degrees, their skills improve and their wages go up; they are more likely to lead healthy lives and be engaged in their communities; and they build better futures for themselves and for their families.