Try these ideas to see if the federal government helps with the cost of tuition. These plans are based on your personal income and whether you file as single, married, or married filing individually.
Child Tax Credit (CTC)
Provides up to $3,000 for children under the age of 17 plus an additional $600 for children under 6.
Child and Dependent Care Tax Credit (CDCTC)
Federal tax credit that helps families pay for child care. For 2021, families earning up to $125,000 can claim refundable credits up to $4,000 for one child and $8,000 for two children, and families earning between $125,000 and $400,000 can claim a portion of the credit.
Dependent Care Flexible Spending Account (FSA)
Allows you to set aside $10,500 pre-tax dollars for child care costs. This plan is set up with your employer and the savings can be significant. Since this description of benefits may or may not apply to your family, consult with a tax professional as you plan your investment in your child’s future.
Jose and Kathy have two children (over 6 years old) and $100,000 in income. They sign up for Summer Academics Gold. They use the Child and Dependent Care Tax Credit and an additional $6,000 Child Tax Credit. This is the year to invest in your student!
This is only an example of one married couple and your circumstances may be quite different. We are not tax advisors and your situation is unique. Check with your tax advisor before registration.
Your AfterSchool tuition is a 10 month agreement paid on a monthly basis. Summer Academics Gold, TGIF, and Tutoring are on different time commitments. All payments are made through Smart Tuition online or you can pay at the front desk.