Download or read book Student Aid and Postsecondary Tax Preferences written by Michael Brostek and published by DIANE Publishing. This book was released on 2005-11 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fed. assistance helps students & families pay for postsecondary ed. through several policy tools -- grant & loan programs authorized by title IV of the Higher Ed. Act of 1965 & more recently enacted tax preferences. In FY 2004, about $14 billion in grants & $56 billion in loans were made under Title IV while estimated outlay equivalents for postsecondary tax preferences amounted to $10 billion. In light of the relative newness & financial significance of tax preferences, this report examines: (1) how Title IV assistance compares to that provided through the tax code; (2) the extent to which tax filers effectively use postsecondary tax preferences; & (3) what is known about the effectiveness of fed. assistance. Charts & tables.
Download or read book Student Aid and Postsecondary Tax Preferences Limited Research Exists on Effectiveness of Tools to Assist Students and Families Through Title IV Student Aid and Tax Preferences Report to the Committee on Finance U S Senate GAO05 684 written by General Accounting Office, Washington, DC. and published by . This book was released on 2005 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Federal assistance helps students and families pay for postsecondary education through several policy tools--grant and loan programs authorized by title IV of the Higher Education Act of 1965 and more recently enacted tax preferences. In fiscal year 2004, about $14 billion in grants and $56 billion in loans were made under title IV while estimated outlay equivalents for postsecondary tax preferences amounted to $10 billion. In light of the relative newness and financial significance of tax preferences, this report examines (1) how title IV assistance compares to that provided through the tax code, (2) the extent to which tax filers effectively use postsecondary tax preferences, and (3) what is known about the effectiveness of federal assistance. This report was amended on November 17, 2005 to remove estimated median income data for households with Section 529 Qualified Tuition Program accounts or Coverdell Education Savings Accounts, due to a sample selection bias in the private sector research report that was our source. Median income estimates were removed from Table 2 and the text on page 18. Appended are (1) Objectives, Scope, and Methodology; (2) Confidence Intervals; (3) Post Secondary Related Tax Preferences; and (4) Comments from the Department of Education. Contains 32 tables, and 1 figure.
Download or read book Postsecondary Education written by Michael Brostek and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Federal assistance helps students and families pay for postsecondary education through several policy tools--grant and loan programs authorized by title IV of the Higher Education Act of 1965 and more recently enacted tax preferences. This testimony summarizes and updates our 2005 report on (1) how title IV assistance compares to that provided through the tax code (2) the extent to which tax filers effectively use postsecondary tax preferences, and (3) what is known about the effectiveness of federal assistance. This hearing is an opportunity to consider whether any changes should be made in the government's overall strategy for providing such assistance or to the individual programs and tax provisions that provide the assistance. This statement is based on previously published GAO work and reviews of relevant literature. Title IV student aid and tax preferences provide assistance to a wide range of students and families in different ways. While both help students meet current expenses, tax preferences also assist students and families with saving for and repaying postsecondary costs. Both serve students and families with a range of incomes, but some forms of title IV aid--grant aid, in particular--provide assistance to those whose incomes are lower, on average, than is the case with tax preferences. Tax preferences require more responsibility on the part of students and families than title IV aid because taxpayers must identify applicable tax preferences, understand complex rules concerning their use, and correctly calculate and claim credits or deductions. While the tax preferences are a newer policy tool, the number of tax filers using them has grown quickly, surpassing the number of students aided under title IV in 2002. Some tax filers do not appear to make optimal education-related tax decisions. For example, among the limited number of 2002 tax returns available for our analysis, 27 percent of eligible tax filers did not claim either the tuition deduction or a tax credit. In so doing, these tax filers failed to reduce their tax liability by $169, on average, and 10 percent of these filers could have reduced their tax liability by over $500. One explanation for these taxpayers' choices may be the complexity of postsecondary tax provisions, which experts have commonly identified as difficult for tax filers to use. Little is known about the effectiveness of title IV aid or tax preferences in promoting, for example, postsecondary attendance or school choice, in part because of research data and methodological challenges. As a result, policymakers do not have information that would allow them to make the most efficient use of limited federal resources to help students and families.
Download or read book Postsecondary Education written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-09-13 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Federal assistance helps students and families pay for postsecondary education through several policy tools-grant and loan programs authorized by title IV of the Higher Education Act of 1965 and more recently enacted tax preferences. This testimony summarizes and updates our 2005 report on (1) how title IV assistance compares to that provided through the tax code (2) the extent to which tax filers effectively use postsecondary tax preferences, and (3) what is known about the effectiveness of federal assistance. This hearing is an opportunity to consider whether any changes should be made in the government's overall strategy for providing such assistance or to the individual programs and tax provisions that provide the assistance. This statement is based on previously published GAO work and reviews of relevant literature.
Download or read book Student Aid and Postsecondary Tax Preferences written by United States. Government Accountability Office and published by . This book was released on 2005 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Gao 07 262t Postsecondary Education written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-01-28 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: GAO-07-262T Postsecondary Education: Multiple Tax Preferences and Title IV Student Aid Programs Create a Complex Education Financing Environment
Download or read book Tax Incentives for Post Secondary Education written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Select Revenue Measures and published by . This book was released on 2011 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Student aid and tax benefits better research and guidance will facilitate comparison of effectiveness and student use written by Cornelia M. Ashby and published by DIANE Publishing. This book was released on 2002 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: To assist Congress as it prepares for the reauthorization of the Higher Education Act, a study was undertaken of Title IV aid programs and higher education tax provisions designed to assist students and families. Focusing on the HOPE and Lifetime Learning tax credits. Data from the National Postsecondary Student Aid Study and other databases were used. In the 1999-2000 academic year, it is estimated that the Lifetime Learning and HOPE tax credits provided more than 4 in 10 undergraduate students with benefits that equaled a varying share of tuition and fees charged and Title IV aid received. Some students families had incomes too high to use the credits; others had tax liabilities too low to use the credits or to use the credits to the maximum. Among all dependent students who received the HOPE credit, it equaled, on average, about 20% of the tuition and fees, and for independent students, the HOPE credit equaled about 30% of tuition and fees. Taken together, Title IV student aid and higher education tax credits now assist more than 70% of undergraduate students and families in paying for postsecondary education. Five appendixes contain details about methodology and research, comments from government agencies, and a list of contacts and staff at the General Accounting Office. (Contains 14 tables, 13 figures, and 19 references.) (SLD).
Download or read book To Choose Or Not to Choose written by Tatyana Guzman and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Education-related tax preferences studied in this paper (Hope credit, Lifetime Learning credit, and tuition and fees deduction) are a form of federal aid available for qualifying students who are currently enrolled in postsecondary institutions and paying certain college-related expenses. Such tax-based aid simply reduces personal federal income tax liabilities. The Hope and Lifetime Learning credits have been around since 1997 and education-expense deductions since 2001. Since then, the federal government has spent hundreds of billions of dollars on these tax preferences according to the Office of Management and Budget (OMB). In 2010 alone, the OMB estimates that education-related tax preferences for individuals cost the federal government about 36 billion dollars in foregone taxes. Despite the magnitude of these tax preferences and the fact that they have been around for fifteen years, research on the ability of tax preferences to actually promote college matriculation and success is very limited. Three prior articles examine this issue: all look at the effect of tax credits on the decision to enter college (Long, 2003; Turner, 2011; LaLumia, 2012); one additionally looks at the choice between two and four year institutions and college pricing (Long, 2003). I use four waves of a National Postsecondary Student Aid study (NPSAS) (NPSAS:96, NPSAS:00, NPSAS:04, and NPSAS:08) restricted-use data files to learn how tax-based aid affects college choice decisions. The Tax Relief Act of 1997 was an important change in tax code related to educational tax preferences which created a natural experiment. I estimate an instrumental variable difference-in-differences model, where the 1995-96 school year, two years before the major changes in tax preferences' legislature occurred, is treated as a reference year. The other three waves of data are considered post years (two, six, and ten years after the policy implementation). I find that students eligible for the tax-based financial aid are more likely to attend private for-profit and two-year colleges. In addition, eligible students are more likely to attend college part-time.
Download or read book Federal Aid to Postsecondary Students written by United States. Congressional Budget Office and published by . This book was released on 1978 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Report Card on Tax Exemptions and Incentives for Higher Education written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 2006 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Report Card on Tax Exemptions and Incentives for Higher Education written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 2006 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Impact of Tax based Federal Student Aid written by Nicholas Peter Turner and published by . This book was released on 2010 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tax-based federal student aid--the Hope Tax Credit, Lifetime Learning Tax Credit and Tuition Deduction--marks a new paradigm for federal aid by offering tax incentives for postsecondary enrollment aimed at the middle-class. In this dissertation, I examine how the programs impact postsecondary enrollment, how colleges and universities respond to the programs, and I explore how taxpayers who are limited to one program select among the three options. In the first Chapter, I exploit policy-induced variation in tax-based aid eligibility to estimate its casual effect on college enrollment. I find that tax-based aid increases full-time enrollment in the first two years of college for 18-19 year-olds by 2.2 percentage points (6.7 percent). Yet, the enrollment increase comes at a steep price. Between 7 and 13 inframarginal youths are subsidized for each marginal youth that is induced to enroll in college. In the second chapter, I explore how colleges and universities respond to tax- based federal student aid. I demonstrate the importance of benefit incidence analysis by showing that the intended cost reductions of tax-based federal student aid are substantially offset by institutional price increases. Contrary to the goal of policymakers, I find that tax-based aid crowds out institutional aid dollar-for-dollar. Unfortunately, it is not clear how institutions utilize these captured resources, so that the ultimate incidence of the programs is uncertain. In the third chapter, I show that roughly one in five taxpayers who are eligible for more than one tax-based federal student aid program, and who are limited to one program per student per year, select a program that offers a smaller reduction in combined federal and state tax liability. I offer three explanations for this pattern of tax-based aid selection, including salience in program value, tax evasion and inertia in program selection. Collectively, the results from these chapters suggest that the benefits of tax- based federal student aid have come at a heavy price. The modest postsecondary enrollment increase for middle-income youths is achieved via a substantial transfer to colleges and universities, while complexity in program rules introduces substantial frictions for taxpayers.
Download or read book Why Government Fails So Often written by Peter H. Schuck and published by Princeton University Press. This book was released on 2015-08-25 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: "From healthcare to workplace conduct, the federal government is taking on ever more responsibility for managing our lives. At the same time, Americans have never been more disaffected with Washington, seeing it as an intrusive, incompetent, wasteful giant. The most alarming consequence of ineffective policies, in addition to unrealized social goals, is the growing threat to the government's democratic legitimacy. Understanding why government fails so often--and how it might become more effective--is an urgent responsibility of citizenship. In this book, lawyer and political scientist Peter Schuck provides a wide range of examples and an enormous body of evidence to explain why so many domestic policies go awry--and how to right the foundering ship of state.Schuck argues that Washington's failures are due not to episodic problems or partisan bickering, but rather to deep structural flaws that undermine every administration, Democratic and Republican. These recurrent weaknesses include unrealistic goals, perverse incentives, poor and distorted information, systemic irrationality, rigidity and lack of credibility, a mediocre bureaucracy, powerful and inescapable markets, and the inherent limits of law. To counteract each of these problems, Schuck proposes numerous achievable reforms, from avoiding moral hazard in student loan, mortgage, and other subsidy programs, to empowering consumers of public services, simplifying programs and testing them for cost-effectiveness, and increasing the use of "big data." The book also examines successful policies--including the G.I. Bill, the Voting Rights Act, the Earned Income Tax Credit, and airline deregulation--to highlight the factors that made them work.An urgent call for reform, Why Government Fails So Often is essential reading for anyone curious about why government is in such disrepute and how it can do better"--
Download or read book Tax Issues Related to Ponzi Schemes and an Update on Offshore Tax Evasion Legislation written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 2009 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Student Financing of Undergraduate Education 2003 04 written by and published by . This book was released on 2006 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Student Aid and the Cost of Postsecondary Education written by Jay Noell and published by . This book was released on 1991 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt:
