Fayette County families have more than $1 million in unclaimed college tuition tax credits, according to a new estimate released by U.S. Sen. Sherrod Brown (D-OH).
During a news conference call Wednesday, Brown announced a campaign to make sure all eligible families utilize the $2,500 American Opportunity college tuition tax credit (AOTC). He is encouraging families to file this year for the tax credit, which was passed as part of the Recovery Act and extended by the bipartisan tax compromise.
"Middle class Ohio families are missing out on millions of dollars in tax relief for one of the most important investments they make - a college education for their children," Brown said. "As college costs continue to rise, $2,500 can go a long way toward helping Ohio families afford college costs. While only 35 percent of Ohio families filed for this credit last year, it's not too late for families to claim this important tax credit."
Ohio families have more than $700 million in unclaimed college tuition.
According to Brown's county-by-county figures, Fayette County has 1,493 total college students with 921 of them who are eligible for AOTC but didn't claim it.
Last tax year, this credit provided Ohio families paying tuition with an average of $1,918 in tax relief per student, Brown said.
To read the rest of the article, please click the source link above.