Parents who are supporting their children by providing tuition and housing assistance to their children who are seeking a college education should be provided a meaningful tax credit. This would apply to parents or guardians who earn under $250,000 per year. This would help and encourage the middle class wage earner to help their children get higher education. It could also help to decrease the amount of debt that young people take on to get a higher education. In some cases, a parent can borrow against their home or their retirement in order to help their kids through college, but this results in certain losses to the parent that could be recouped through a tax credit.
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