NEWS - Education & Colleges

SDN Staff Report

Nov 14, 2011 - The Georgia Department of Revenue has approved $50 million in donations to provide scholarships to students to attend private schools under the Georgia Scholarship Tax Credit Program, it was announced Friday.

For the first time in the three-year history of the program, individuals and businesses donated the maximum allowed under the program to Student Scholarship Organizations, which provide scholarships for children to attend the schools of their parents' choice.

"Generous donations to the scholarship tax credit program are giving thousands of Georgia children access to a better education and the opportunity for a brighter future," said Betsy DeVos, chairman of the American Federation for Children. "We're hopeful that Governor Deal and Georgia legislators will continue efforts to further empower parents to choose the schools that work best for their children."

Beginning in 2012, the statewide cap on donations will increase by the annual increase in the Consumer Price Index until 2018.

The Georgia Scholarship Tax Credit Program allows individuals and businesses to receive tax credits for donations to Student Scholarship Organizations that provide scholarships to Georgia children to attend private schools statewide.  Individuals can donate up to $1,000, and married couples have a donation cap of $2,500.  Corporations can donate up to 75 percent of their state income tax liability. 

Last year, it's estimated that more than 6,000 students received scholarships to attend private schools through the program.