This bill aims to alleviate some of the burden of tuition payments on students and families who pay tuition to a Massachusetts public college or university to make obtaining a higher education more affordable and accessible. Higher education costs have skyrocketed over the past few decades, driving students into crushing debt while pursuing a degree. This legislation allows students to deduct up to 50% of tuition and fee payments.
Massachusetts relies on a highly educated workforce to propel economic growth, especially in healthcare, biotechnology, and advanced manufacturing. Approximately 70% of Massachusetts high school graduates who move on to higher education attend a public college or university. In a time when too many students across Massachusetts are struggling to afford college, it is critical that Bay Staters can continue to afford degrees to fill these good, high paying jobs and support these industries in their home state.