AJCU has worked extensively to maintain a number of tax provisions that have been important to our Jesuit institutions and to higher education throughout the years. By providing tax credits, deductions, and other benefits, primarily to middle class families, most of these provisions have assisted students and parents in offsetting the cost of higher education. Other provisions have benefited our institutions by incentivizing donations and by supporting research and development at our colleges and universities. For this reason, AJCU will continue to support the preservation of the following tax provisions:
Select Provision Described:
There is a 10% additional tax penalty for early distribution from IRAs unless the withdrawal is used for qualifying educational expenses. Qualifying expenses include tuition and fees, books, supplies and equipment, room and board, and expenses for special needs services. More information can be found here.