Is College Tuition Tax Deductible?
Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
Tax planning is one reason investors seek the help of a financial professional. Learn how SmartAsset can help you find clients looking for advice.
Going to college seems to get more expensive every year. Tuition, fees, room and board for an out-of-state student attending a four-year public institution cost $28,240 for the 2022-2023 school year (on average). About a decade ago, an in-state student would’ve paid an average of $15,180 (in 2016 dollars) for the same expenses. There’s not much you can do about rising college costs, but there are a few tax breaks you can use to help offset the cost of college. A financial advisor can help you optimize a tax strategy for your education needs and goals.
Tax credits for college students