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College ChoicesThe Economics of Where to Go, When to Go, and How to Pay for It$
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Caroline M. Hoxby

Print publication date: 2004

Print ISBN-13: 9780226355351

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226355375.001.0001

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The Impact of Federal Tax Credits for Higher Education Expenses

The Impact of Federal Tax Credits for Higher Education Expenses

(p.101) 3 The Impact of Federal Tax Credits for Higher Education Expenses
College Choices

Bridget Terry Long

University of Chicago Press

This chapter examines the distribution and impact of the Hope Learning Credit (HLC) and Lifetime Learning Tax Credit (LLTC) on taxpayers, students, and institutions. By reviewing the literature and analyzing several data sets on tax returns, individual behavior, and institutional activities, the chapter examines three major questions. First, how have the tax credits been distributed by income? Although no program is likely to reach all eligible students, the higher education tax credits provide a new opportunity to test how effective it is to deliver college aid through the tax system. Second, how have the credits affected the college decisions of individuals? Have they prompted individuals to attend college who would not have otherwise? Have the credits encouraged students to choose more expensive colleges? The chapter also looks at how postsecondary institutions responded to the tax credits.

Keywords:   Hope Learning Credit, Lifetime Learning Tax Credit, taxpayers, institutions, tax returns, college aid, tax credits, college decisions, colleges, income

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