Metro

NY Sen. Chuck Schumer says under-used tuition tax break extended

Sen. Charles Schumer says an under-used tuition tax break that was due to expire this month has been renewed for middle class families nationwide. It will provide up to $2,500 a year in tuition relief.

The New York Democrat says the measure takes $1 off a taxpayers federal bill for every $1 spent on college tuition. Just 43 percent of families eligible took advantage of the break last year.

But families who didn’t seek the break can still amend their old tax returns dating back three years to claim the credit.

Schumer sponsored the bill. He says the $18 billion program passed the Senate Wednesday, days before it was to expire. Of that total, $2 billion is budgeted for New York.

Higher education costs have risen at many times the inflation rate in recent years.