Illinois Tax Credit Scholarship
Illinois offers a tax credit worth up to $750 for “qualified education expenses” at both public and private schools, including book rental, lab fees and tuition.
Illinois signed a contract for $640,000 for a report that could help legislators determine the value of the state’s recently defunct private school scholarship program, but a lack of data makes its findings “inconclusive.”
The controversial program known as Invest In Kids took donations from people and businesses. It used that money to subsidize student tuition for low-income families at private and trade schools before expiring last year. Critics of the program say it takes away resources from the public schools the majority of state children attend.
Donors receive state income tax credits for their contributions to the Invest in Kids program, which helps some 9,600 students across Illinois attend private and trade schools. But barring last-minute legislative action, authorization for the program runs out at the end of 2023.
Students at private schools across Illinois are at risk of losing their scholarships if state lawmakers don’t extend the Invest in Kids Act, which is slated to end Dec. 31.
The Illinois Tax Credit Scholarship program offers tuition assistance for families who meet income thresholds. There are no merit components to eligibility.