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Frequently Asked Questions

What is a Tax Credit?

A tax credit is a discount on your annual tax bill. For example, if someone owes $10,000 in taxes in 2024 and they receive a $1,000 tax credit, then their actual 2024 tax bill will be $9,000.

How is it different from a tax deduction?

Both credits and deductions can reduce your tax bill, but tax credits are simpler and more direct.

A tax credit directly reduces your tax bill by the credit amount.

A tax deduction reduces your taxable income. For example, if someone with annual income of $100,000 receives a tax deduction for $10,000, their taxes are calculated as if they made $90,000.

What would a tax credit scholarship in New Jersey look like?

Scholarships would be limited to low and middle-income students (i.e. family income <$200,000, adjusted based on family size). A single Scholarship Granting Organization would accept all tax creditable donations and distribute all scholarships – spending no more than 5% on administrative costs.

Why is this good policy?

Nonpublic schools contribute billions of dollars to the state economy, provide a valuable education to over 10% of the state’s children, and are responsible for the creation of more than 36,370 of jobs in the state. The "New Jersey Student Support Act" provides educational opportunities for tens of thousands of our students, freeing up seats in public schools, while providing valuable resources to the state, and its educational ecosystem.

Realistically, how big will these scholarships be?

This depends on how many apply – the range can vary, but we will be starting from a place that will already make a big dent in tuition.

How will this help families?

Low and middle-income families would be provided thousands of dollars in tuition relief.

How will we coordinate $250m in tax credit donations every year?

Big corporations have no trouble raising funds in states with even larger programs.

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The proposed Tax Credit Scholarship bill in New Jersey will create educational opportunities for New Jersey's families by easing the burden of tuition, while at the same time benefiting the state's school system and economy, overall. Join me and help make Tax Credit Scholarships a reality in New Jersey!

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Tax Credit Scholarship programs are essential for families by keeping costs for school manageable and help the state by saving the public school system billions per year.

The proposed Tax Credit Scholarship bill in New Jersey will create education opportunities for our community, easing the burden of tuition, while benefiting the school system and the state, overall.

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By offering financial assistance to those most in need wherever they go to school, the 'NJ Student Support Act' (#a4144 / #s3035) allows our state’s educational system - and our children - to thrive. Join me in the fight to make it a reality! More at: actfornjstudents.com 

The #NJStudentSupportAct (#a4144 / #s3035) provides support to the communities, families, and districts that need it most, creating opportunity for New Jersey’s children. Together, we can bring this support to our state. More at: actfornjstudents.com

New Jersey has the best public schools in the country. The #NJStudentSupportAct (#a4144 / #s3035) is an opportunity to support them by increasing funding to the school districts that need it the most. Join me in the fight to make it a reality! More at: actfornjstudents.com

The #NJStudentSupportAct (#a4144 / #s3035) isn't either/or, it's a is a win for ALL of New Jersey's students by providing support for public AND nonpublic schools. Send a letter to your legislators and let them know why this bill is so critical to our state: https://www.parentsfornjstudentsupportact.com/action-alert  

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