Educational Assistance Employees With Bad Credit In Illinois
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FAQ
The Illinois Education Expense Credit allows parents or legal guardians of a full-time K-12 student under the age of 21 to take a 25% tax credit on qualified education expenses over $250. The total credit may not exceed $750, regardless of the number of qualifying students.
Similar to federal law, state law provides that contributions made to a qualified tuition program are not deductible.
Amount of the Tax Credit The tax credit is up to $3,500 for qualified educational expenses (tuition, book fees, and lab fees).
After submitting your FAFSA®, you are automatically considered for three types of grants – the State of Illinois Monetary Award Program (MAP) grant, (for Illinois residents), the Federal Pell Grant (Pell), and the Federal Supplemental Educational Opportunity Grant (SEOG).
In most cases, prior approval is required from your employer before enrollment. You'll also want to confirm whether your employer requires you to remain employed for a specified period after the course is completed. Make sure you check with HR so you're not left with unexpected tuition obligations.
The Illinois Department of Revenue also offers tuition reimbursement, day care, and training opportunities.
The tuition waiver benefit for a child of an employee attending the University of Illinois provides the following benefits and has the following limitations: A 50 percent tuition waiver, excluding fees, for up to four years, each year consisting of two semesters and one summer term.
