How tax reform could affect families paying for college
By Katie Lobosco
At public colleges, where the average tuition is $10,000, this change could increase your tax bill by $3,765 a year, according to a calculation done by Eric Bronnenkant, the Head of Tax at Betterment.
For private colleges, where the average tuition is $35,000, it could increase your tax bill by $11,295 a year. (Both calculations assume a federal tax rate of 25% and a state tax of 5%.)
The Senate version of the bill would preserve this tax break, which is known as the qualified tuition reduction.Read the Original Article
This article originally published November 16th, 2017 on CNN Money