Douglaston, NY – Today, Rep. Steve Israel (D-Huntington) and New York State Assemblywoman Nily Rozic (D,WF-Fresh Meadows) announced state legislation to help New York’s middle-class families defray the cost of college preparation expenses, such as college admission tests like the SAT and ACT, preparation courses, application fees, and Advanced Placement (AP) exams. The legislation would allow families paying for college preparation expenses to qualify for a tax credit of up to $500 per child and could be taken for three years, as needed. This past May, Rep. Israel introduced the College Preparation Tax Credit Act of 2014 in Congress.

Rep. Israel said, “New York’s middle-class families, who are already paying some of the highest costs in the country, should not have to struggle to pay for the many expenses incurred when preparing for college. Between the admissions test, preparation courses, Advanced Placement exams, and college application fees, these expenses add up. That’s why I’ve introduced legislation that would give families a break by allowing them to apply for a tax credit to help defray these costs, and I’m proud to join Assemblywoman Rozic who is introducing the legislation on the state level.”

Assemblywoman Rozic said, “The college admissions process can be a stressful time for families who face financial challenges. Now more than ever, students have to choose between what is financially practical and what will help them achieve their goals. My legislation would help families cover the skyrocketing costs of college prep and provide students with options as they go through the admissions process. Preparing students for a successful college experience puts them on a path towards a successful future.”

Jungsook “Grace” Yoon, Executive Director, Korean American Family Service Center, said, “The Korean American Family Service Center (KAFSC) enthusiastically supports this bill (A9783A) providing much-needed financial relief to many struggling families by allowing them to take out a tax credit for college preparation expenses and giving more options for college admissions process. Our Asian/Korean community strongly believes in values of higher education, but we face challenges in navigating public systems and accessing much-needed resources. We think this bill will be a great support to those students and families and our community.”

Calvin Paung, President and Chairperson of Premier Aptitude, said, “This college preparation credit is truly a win-win situation because it gives financially pressed families more opportunities to improve test scores, which benefits students by giving them a wider selection of colleges to consider, while also providing colleges with an influx of academically well-prepared students. We constantly see students develop much more confidence and focus after they finish the tutoring program than when they first started.”

Jessica Lee, Interim Executive Director of the Coalition for Asian American Children and Families, said, “We commend Assembly Member Rozic and State Senator Lanza on their new legislation supporting tax credits for families paying college application fees, Advanced Placement/International Baccalaureate test fees, and college preparation fees. Our hope is that this bill will alleviate some of the financial burdens and barriers associated with the college application and preparation process, and that it will extend assistance to young people and their families who greatly need it.”

Pauline Chu, President of the Chinese American Parents Association, said, “By allowing families to take out a tax credit on college preparation expenses, we are helping working families who want to provide the best for their children. It's important that we make sure our children have the resources they need to succeed inside and outside of the classroom. Education is important to our community and this legislation will help to provide more opportunities to everyone.”

According to a 2009 report from Eduventures, it was calculated that about 2 million students spend $2.5 billion a year on test preparation and tutoring.

According to a College Board report released in February 2014, 33.2 percent of public high school graduates in the class of 2013 took an AP Exam. That is a jump from 18.9 percent of graduates in the class of 2003. While test costs and application fees can vary, an AP test costs $89; an IB test costs $600, although most schools cover all or some of that cost; an ACT test costs $36.50 or $52.50, depending on the version; an SAT test costs $51; and an SAT Subject Test costs $24.50 for first test, $13 for each additional regular test and $24 for each additional language with listening test.