Menu

Our Letter to the US Secretary of the Treasury and the Office of Management and Budget Regarding Deductions from Tax-Credit Contributions

The Little-Known Secret to Fixing U.S. Education


July 20, 2018

The government mandates that every child should be educated. But historically, only well-to-do parents have been able to consistently get their kids access to the best schools.

That’s changing. Below-the-radar programs in several states, including Illinois, are opening doors for the students who need them most.

In August, 2017, the Illinois Legislature passed the Invest in Kids Act as part of a budget package and allocated $75 million for scholarships through tax-credit contributions. This legislation funds scholarships for qualifying low-income students to attend the nonpublic school of their choice.

How it works: taxpayers who donate to state-approved funds like the Children’s Tuition Fund can claim 75% of that funding as a tax credit (so instead of ending up in the normal government pots, it goes straight to schools for scholarships).

For example, if you owe $7,500 in Illinois state income tax and you contribute $10,000 to CTF IL, you eliminate your entire income tax liability because 75% of $10,000 is $7,500. Almost all of your contribution ($9,500) goes to your designated school(s) for scholarships! Both businesses and individuals can participate.

You can learn more about the process, and make your donation, by clicking the button below:

Make Your Donation Here

Keep up-to-date with new state offerings, changes to programs, deadlines and more.

© 2018 Children's Tuition Fund

Toll Free: 866-401-4801