NASFAA joined other higher education associations, under the umbrella of the American Council of Education, in urging Congress to extend the expiring above-the-line tax deduction for qualified tuition and related expenses.

ACE President Molly Broad said in letter to Congress that the above-the-line tuition deduction enhances access to higher education by helping to reduce the cost of college attendance. She noted that the expiration of this provision in December 2009 will create great uncertainty for the many families that have come to rely on the deduction, and that during this time of economic insecurity, it is particularly important the deduction be extended as soon as possible to help families manage the costs of attendance in their increasingly strained budgets.

The letter signatories also advocated extension of the expiring Individual Retirement Account (IRA) Charitable Rollover, a crucial charitable giving tax incentive which helps colleges and universities generate new or increased contributions to weather the economic crisis and maintain benefits to students, particularly financial aid.

Posted 10/30/09 to www.NASFAA.org. Redistribution to non-NASFAA institutions is prohibited. Please submit Web site questions or comments to Web@NASFAA.org.