FOR IMMEDIATE RELEASE
Contact: Haley Chitty
Director of Communications
March 19, 2012 -- What’s better than getting money back from Uncle Sam for your qualified education expenses? Having two extra days to file your 2011 taxes!
The National Association of Student Financial Aid Administrators (NASFAA) has released a new, free Tax Benefits Guide designed to help students and families navigate the sometimes thorny task of determining which higher education tax benefits you qualify to receive—and which will secure you the maximum return on April 17.
The federal government provides roughly $15 billion in tax savings to more than 10 million students and families every year. On average, these tax benefits help qualified families save $1,329 annually. These incentives come in a couple of forms:
“NASFAA's Tax Benefits Guide is intended to ensure that no family leaves money on the table for qualified educational expenses this tax season,” said NASFAA President Justin Draeger. “Financial aid administrators partner with families—every day, in every institution of higher education, as we help students achieve their educational goals and make the best fiscal decisions.”
If you attended college in 2011, you may qualify for more than one of these incentives, but there are some restrictions. It's a good idea to calculate your taxes multiple ways to find the maximum benefits available to you.
Additional detail on eligibility requirements is included in NASFAA’s Tax Benefits Guide for students and families.
The National Association of Student Financial Aid Administrators (NASFAA) is a nonprofit membership organization that represents nearly 20,000 financial aid professionals at 2,800 colleges, universities, and career schools across the country. Each year, financial aid professionals help more than 16 million students receive funding for post secondary education. Based in Washington, D.C., NASFAA is the only national association with a primary focus on student aid legislation, regulatory analysis, and training for financial aid administrators. For more information, visit www.nasfaa.org.
Publication Date: 3/19/2012