(from Inside Higher Ed) The major tax overhaul released by House Republicans last week would kill or limit key benefits for many educational institutions, students and borrowers paying off student loans. Among other provisions, the plan would:
- Impose a 1.4 percent excise tax on college endowments at private universities valued at $100,000 or more per full-time student.
- Likely weaken charitable contributions by doubling the standard individual tax deduction and phasing out the estate tax.
- Kill a section of the tax code allowing employees of nonprofit educational institutions to exclude the value of discounted tuition from their taxable income — a valued benefit enabling colleges and independent schools to recruit employees at what are sometimes lower salaries than competing opportunities
More at Inside Higher Ed
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