The U.S. Treasury released the final guidelines for the federal scholarship tax credit.
The program allows individuals to donate up to $1,700 a year and married couples up to $3,400 to a scholarship-granting organization and receive a dollar-for-dollar federal tax credit. Starting in 2027, the scholarships will be awarded in states that have opted in. So far, 31 states have opted in or announced their intention to participate.
The final guidelines elaborate on details the Treasury Department shared in June.
In Pennsylvania, about 1.8 million students, in both public and private schools, will be eligible for scholarships through this new program.
Andrew Lewis, president and CEO of the Commonwealth Foundation, issued the following statement:
“The final guidelines confirm what we’ve always known about the federal scholarship tax credit: This program will offer millions of dollars in additional resources to millions of Pennsylvania students. Whether it’s for tutoring, special education services, after-school programming, books or supplies, and more, these scholarships will help fill educational gaps in life-changing ways.”
