Qualified individuals going to in-state colleges, universities, and technical colleges can claim a larger tax credit.
Students paying tuition at colleges and universities can now get a $1,500 credit (up from $350 for two-year or technical schools and $850 for four-year colleges. The tax credit is based upon 50 percent of tuition and fees paid, after accounting for any scholarship funds.
The credits require an in-state student have graduated high school within the past year, be enrolled in good standing for at least a year and complete at least 30 credit hours the year they claim the credit.
Students or their parents cannot claim the credit it they have a GED, received a higher-tier lottery scholarship (Palmetto Fellows or LIFE), have defaulted on a student loan or have a prior criminal record for felonies, alcohol or drug-related offenses.