Education Freedom Tax Credit
Help Make an OLV Education Possible
Beginning in 2027, the Education Freedom Tax Credit (EFTC) will offer eligible taxpayers a federal tax credit for qualifying scholarship contributions—up to $1,700 individually or $3,400 for married couples filing jointly, under the proposed rules.
$3,400 covers 4 months of education at OLV for one student. That’s a life-changing impact at no cost to you.
How it Works
Give through ACE Scholarships, OLV’s scholarship partner, using its approved federal program process.
ACE Scholarships provides funds to OLV that make joyfully Catholic classical education accessible to students and families.
Claim your eligible federal tax credit when you file your taxes, eliminating up to $3,400 of your federal tax burden.
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 IRSStay Connected to Learn More
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