We all know how important a college education is. Well, here in Alabama, our governor is making it easier for parents to help their children through college. Governor Riley signed a bill in Montgomery, last month, offering tax deductions for parents …
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We all know how important a college education is. Well, here in Alabama, our governor is making it easier for parents to help their children through college. Governor Riley signed a bill in Montgomery, last month, offering tax deductions for parents in Alabama. This bill was offered by State Treasurer Kay Ivey, was sponsored by Representative Richard Lindsey and Senator Zeb Little and will provide a tax break for parents. The money they save from the tax deductions can go towards any of Alabama’s two college savings programs.
With the strong possibility of a tuition hike this Fall, Alabama families will be in a bind to send their children to school. This tax deduction will be a powerful incentive for parents to make saving for college a priority today.
There are two college savings programs called the "Prepaid Affordable College Tuition Program" (PACT) and the "Alabama Higher Education 529 Fund". Both programs offer parents state and federal tax advantages to help parents save for college. Parents might not be able to save a full four-year tuition amount in one year but it will give parents a head start in having something saved so there won’t be so much to borrow in student loans.
We know that to make it financially in the world today, students need more earning power than a high school degree can give and any college degree whether a two-year associate or Ph.D. would help our youth a chance to be better prepared for the future. As statistics show, college graduates also are more likely to vote, spend more time in civic activities, be less likely to commit crime and be more giving to help others in service.
College attendance is just an important part of our life. We learn more than academics. High school students learn lessons in life because most of the time they are out on their own and have to deal with taking care of themselves. It is a great way for a youth to really grow up and take responsibility for their own life instead of depending upon their parents to take care of everything for them. If they haven’t learn to do it by then, they will when they get on their own.
So get ready for the fall rush of incoming college students. With the help of the tax bill just passed and the highest number of Baldwin County high school graduating students so far, our colleges should be running full force in educating our youth in academics and in life.
Loxley resident Valerie J. Steimle is the author of two books, “Home Is Where The Heart Is, A look at strengthening the American Family,” and her latest book, “Home Is Where The Learning Is” (www.amazon.com/gp/product/1403379637). Contact her at valeriesteimle@yahoo.com or visit her website at www.stengthenyourhome.com.