Although it is among the top 10 states for income, Virginia ranks 41st in the U.S. in per-pupil spending (Jones & Stewart, 2021).
Ing to a report from the Education Data Initiative, public education funding varies significantly across states. K-12 schools in Alaska receive the most federal funding per pupil, followed by North Dakota. Conversely, Utah and Kansas receive the least federal funding per pupil.
RICHMOND, VA – Governor Glenn Youngkin has announced a $51.25 million budget investment to direct critical resources to students most in need, as identified by the Virginia Board of Education's School Performance and Support Framework.
General fund appropriations serve as the mainstay of state support for the commonwealth's public schools, augmented by retail sales and use tax revenues, state lottery proceeds, and other sources. Counties, cities, and towns comprising school divisions also support public education.
For the American Opportunity Credit the education credit income limit is as follows: Single, head of household, or qualifying widow(er) — $80,000-$90,000. Married filing jointly — $160,000-$180,000.
Limit: The maximum permissible limit under Section 80C of the Income Tax Act 1961 is Rs. 1.5 lakh with deductions eligible only for two children per assessee.