Education Freedom Tax Credit
Make an OLV Education Possible
Beginning on January 1, 2027, the Education Freedom Tax Credit (EFTC) will offer eligible taxpayers a federal tax credit for qualifying scholarship contributions—up to $1,700 for individuals, or $3,400 for married couples filing jointly, under the proposed rules.
You don’t have to live in Colorado to take advantage of the EFTC and help OLV. U.S. taxpayers nationwide can participate in the Education Freedom Tax Credit by making a qualifying contribution through an approved scholarship granting organization and directing their support to OLV. Because this is a federal tax credit, your state of residence does not prevent you from participating.
$3,400 covers four months of education at OLV for one student. That’s a potentially life-changing impact. Would you rather give that money to the federal government, or redirect it to students at a joyfully Catholic classical high school at essentially no cost to you?
Here’s How it Works
Starting on January 1st, 2027, married couples filing jointly can give up to $3,400 to ACE Scholarships, designating Chesterton Academy of Our Lady of Victory as the recipient of your donation. Individuals can give up to $1,700.
ACE Scholarships will then redirect 100% of those funds to OLV in the form of scholarship money for students so that we can make joyfully Catholic classical education accessible to even more students and families.
Claim your eligible federal tax credit when you file your taxes, eliminating up to $3,400 of your federal tax burden if you are married filing jointly, or up to $1,700 if you are filing as an individual. The money that you donated in Step 1 goes right back into your pocket in the form of a dollar-for-dollar tax credit.
Tax Credit vs. Charitable Deduction
A tax credit reduces the tax you owe, dollar for dollar.
A charitable deduction reduces the income you are taxed on. The tax savings depend on your tax rate and whether you qualify for the deduction.
For example, a $1,000 credit can reduce your tax bill by $1,000. A $1,000 deduction at a 22% marginal tax rate would generally save $220, assuming the full deduction qualifies.
Credits and deductions each have eligibility rules and limits.
Learn more from the IRSTHE POTENTIAL FOR OLV
What difference could this make for our school?
With 106 students at OLV, a relatively small network of participating taxpayers could have a transformational impact on our ability to make Catholic classical education accessible to families.
Your Federal Taxes.
Their Catholic Education.
Stay Connected & Receive Updates
Sign up for updates about how you can support OLV through the Education Freedom Tax Credit, and encourage your friends and family to sign up as well!
