POSTED BY REGINA CANTU
In his efforts to strengthen the education sector, President Felipe Calderón has announced that tuition fees will be tax deductible. The aim of this new policy is to encourage people to enroll in postsecondary institutions and advance towards post-graduate studies.
Calderón further noted at a press conference in Los Pinos on Monday that his administration plans to foster the creation of a student credit program that enhances postsecondary institutions and motivates students across the country to aim for higher degrees. The President then signed the official decree enabling Mexican families throughout the country to deduct tin full the tuition fees they paid from their taxes for that fiscal year.
The President said that the new policy was long overdue, and that it will ultimately benefit families who struggle on a daily basis to provide for their children the best possible education. These tax deductions are applicable at all grade levels, from preschool through high school and beyond. Parents of students attending private institutions are also eligible to receive these benefits, as the government has previously authorized many of these schools.
Accompanied by Ernesto Cordero Arroyo, the head of the Treasury and Public Finance Secretariat (SHCP), and the Secretary of Education, Alonso Lujambio, the President said that the government and the education sector are prepared to deal with the implications of the decree.
“Our only goal is to support our families so that they can give their children the education they deserve. This is something that was long overdue, people throughout the country have demanded it for too long,” he added.
Image: Latin American Herald Tribune