tuition assistance for "low" income students attending private schools

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tuition assistance for "low" income students attending private schools

Post by ging on Mon Dec 04, 2017 3:36 pm

surprised nobody has brought this up (unless i missed it).  

What You Need to Know About the “Invest in Kids” Tax Credit Scholarship
Fact Sheet for Parents

Through the “Invest in Kids Act,” Illinois children enrolled in private schools will have access to new scholarships. The
scholarships offered through this program could cover 50 to 100 percent of tuition and eligible charges for next school
year. Below is more information about how to apply, and if your family is eligible to receive a scholarship.

Tax credit scholarships: Students grades K-12 have the opportunity to receive tax credit scholarships in the 2018/2019
school year.

Application process: Since this is a new program, application details are being finalized, and we will share them as soon
as they are available. We do know that the application process will be online and we will help you through it by answering
your questions and helping families complete the application.

Help applying: You can get help applying for the scholarship in person at a variety of events in your community in the
coming months. We will share the dates and locations of these events as we know more.

Application deadline: This year, you will need to apply to a different organization that manages the scholarship process,
instead of the school directly. By law that organization may begin accepting applications as early as December.
Scholarships will be awarded on a first come, first serve basis starting January 2, 2018, so it is very important that you
apply early. This application deadline for this scholarship is a much earlier than our financial aid process in previous
years.

How to qualify: Eligibility to receive a scholarship is based on your family’s household income. For example, you could
receive a tax credit scholarship if you make less than $73,800 a year as a family of four.


Scholarship amount: Your family could receive a scholarship that covers 50 to 100 percent of tuition and eligible
charges for next school year. Students who have defined special needs, are English Language Learners, or are classified as
Gifted and Talented could receive a higher scholarship amoun
t.


On the surface, this appears to make it much more affordable for students to attend private schools. I believe funds are limited and are on a first come, first serve basis.
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Re: tuition assistance for "low" income students attending private schools

Post by Head Skin on Mon Dec 04, 2017 3:43 pm

I think it will seriously help Chicago area privates, but down here most privates are struggling to stay open. Idk that they can let too many more kids in for free.
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Re: tuition assistance for "low" income students attending private schools

Post by ging on Mon Dec 04, 2017 3:43 pm

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Re: tuition assistance for "low" income students attending private schools

Post by ging on Mon Dec 04, 2017 3:44 pm

Head Skin wrote:I think it will seriously help Chicago area privates, but down here most privates are struggling to stay open.  Idk that they can let too many more kids in for free.

but they won't be coming for free. someone else will be writing the check.
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Re: tuition assistance for "low" income students attending private schools

Post by Head Skin on Mon Dec 04, 2017 3:45 pm

ging wrote:
Head Skin wrote:I think it will seriously help Chicago area privates, but down here most privates are struggling to stay open.  Idk that they can let too many more kids in for free.

but they won't be coming for free.  someone else will be writing the check.
Who? I assumed the scholarship would be from the school. If not, someone associated with the school?
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Re: tuition assistance for "low" income students attending private schools

Post by ging on Mon Dec 04, 2017 3:50 pm

Head Skin wrote:
ging wrote:
Head Skin wrote:I think it will seriously help Chicago area privates, but down here most privates are struggling to stay open.  Idk that they can let too many more kids in for free.

but they won't be coming for free.  someone else will be writing the check.
Who?  I assumed the scholarship would be from the school.  If not, someone associated with the school?

The new law will allow those individuals who pay state income taxes to earmark up to $1 million a year of the state tax they owe as a donation to the private school or schools of their choice. So, money that would otherwise go into the state’s general revenue fund will thus be converted to private school scholarships for children whose family income is up to 400 percent of the federal poverty level. And, these children may already be enrolled in private schools.

-Chicago Tribune article in August
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Re: tuition assistance for "low" income students attending private schools

Post by SIFBCoach7 on Mon Dec 04, 2017 5:14 pm

But I have to earmark it as a donation to the private school fund, or is my state income tax automatically donated to this fund?

*I didn't read the whole article.
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Re: tuition assistance for "low" income students attending private schools

Post by Teetime on Mon Dec 04, 2017 6:24 pm

I'm going to go ahead and make this designation on the 400 or so Illinois income tax returns I do each year. You guys with kids in private schools can thank me later.

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Re: tuition assistance for "low" income students attending private schools

Post by newcom on Tue Dec 05, 2017 5:50 pm

The Illinois INVEST IN KIDS ACT is designed to help you have a
CHOICE for the best K-12 school for your child —including
PRIVATE SCHOOL
If your family qualifies for Free or Reduced lunch (according to federal guidelines), you could qualify for
50, 75 or 100% of necessary tuition and fees to send your child to the private school of your choice.
How do I know if I qualify?
Check out the chart or go to the website below for more information.

Household size Maximum Income for


100% 75% 50%
2 $30,044 $40,600 $48,720
3 $37,777 $51,050 $61,260
4 $45,510 $61,500 $73,800
5 $53,243 $71,950 $86,340
6 $60,976 $82,400 $98,880


What do I do if my family qualifies?
Applications for this scholarship money will start in January. Contact the private school of your choice for a tour and more information about the scholarship.
Can I apply at any time?
Applications are expected to start in January. Scholarships will be
awarded on a first come, first served basis until the scholarship money runs out. It is recommended that you apply early so that you are more likely to receive a scholarship.
How much money will be available?
The Invest In Kids Act provides for $100 million in scholarship funds across the state if the program is fully funded. All scholarship money is being donated by private citizens and corporations that believe all families, regardless of income, should have access to choices in education.
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Re: tuition assistance for "low" income students attending private schools

Post by newcom on Tue Dec 05, 2017 5:53 pm

Turksters, who wants to contribute so I can get Ging to send his daughter to Newman???? Shocked Very Happy Cool Very Happy Very Happy
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Re: tuition assistance for "low" income students attending private schools

Post by Teetime on Tue Dec 05, 2017 9:50 pm

Head Skin wrote:
ging wrote:
but they won't be coming for free.  someone else will be writing the check.
Who?  I assumed the scholarship would be from the school.  If not, someone associated with the school?

The money comes from donors who write a check for up to $1 million dollars to an approved “Scholarship Granting Organization” (SGO) and then is distributed to kids in need according to the income levels described in this thread.

The donors are rewarded by the State with a certificate for 75% of the amount donated that can only be used to pay an Illinois income tax liability in this year or any future year until it is used up. That is a nice return on a donation. Typically, if I donate $1,000 to SHG I get a federal write off that saves me about $320. Here, I get back $750 on my $1,000 donation.


Last edited by Teetime on Tue Dec 05, 2017 10:50 pm; edited 1 time in total

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Re: tuition assistance for "low" income students attending private schools

Post by ramblinman on Tue Dec 05, 2017 10:31 pm

Teetime wrote:
The donors are rewarded by the State with a certificate for 75% of the amount donated that can only be used to pay an Illinois income tax liability in this year or any future year until it is used up. That is a nice return on a donation. Typically, if I donate $1,000 to SHG I get a federal write off that saves me about $320. Here, I get back $750 on my $1,000 donation.

Don't get me wrong, I'm all for school choice, vouchers, etc. However, how can our broke ass state afford not to take in every single dollar in income tax revenue that it is owed?
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Re: tuition assistance for "low" income students attending private schools

Post by Teetime on Tue Dec 05, 2017 10:50 pm

The State can’t afford it. That never stopped them before.

Some faction of the legislative body wanted to enact a law that helped in the area of “school choice”. Whatever faction it was will campaign on having accomplished this in the next election. That’s what this is all about, not balancing needs vs means.

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Re: tuition assistance for "low" income students attending private schools

Post by ging on Wed Dec 06, 2017 1:38 pm

newcom wrote:Turksters, who wants to contribute so I can get Ging to send his daughter to Newman???? Shocked  Very Happy Cool Very Happy Very Happy

newcom's got jokes!
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