Go to College Tax Incentives Act

Summary

Go to College Tax Incentives Act - Amends the Internal Revenue Code to allow a credit (based on adjusted gross income), of up to $1500, for the interest paid on any qualified education loan of a student (who is at least a half-time student) for qualified higher education expenses during the first 60 months interest payments are due. Sets forth rules, with respect to such credit, concerning, among other things: (1) dependents; (2) the taking of the credit and an educational expense deduction; (3) married couples; and (4) reporting. Establishes, as a general rule, that an education savings account is exempt from taxation. Defines such account as a trust created exclusively to pay qualified higher education expenses. Sets forth special rules concerning such accounts.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 1 May 1997

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 1 May 1997

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• Introduced in Senate

  summary · EN · 1 May 1997

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