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Higher Education Hates New Tax Bills

• Tuition waivers: House tax bill would make waived tuition taxable for many grad and doctoral students who have their tuition waived in exchange for teaching.

• University Employees: Will be taxed on any tuition or benefits received for their children because they work at the University.

• Student Loan Interest: House bill eliminates claiming a deduction on student loan interest

• University endowments: Senate and House bills propose excise tax on private college endowments that are more than $250,000 per full time student. Senate bill includes a 20% excise tax on any endowments used to pay $1 million in executive compensation.

• State and local tax deductions: House bill will limit the state and local tax deception and the Senate will repeal it.

• Other: House bill eliminates the Lifetime Learning Credit.

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