The Indiana Tax Credit Scholarship program is a privately funded scholarship that helps cover the costs of attending a private school. Funding for Indiana Tax Credit Scholarships comes from private, charitable donations to qualified scholarship granting organizations (SGOs). Donors are eligible for 50% state tax credit. While there are no limits on the size of qualifying contributions to an SGO, the entire tax credit program has a limit of $17.5 million for fiscal year 2021-22 and $18.5 million for fiscal year 2022-23. This permits up to $35 million in donations and scholarships for fiscal year 2021-22. The SGO for all Archdiocese of Indianapolis Catholic Schools is the Institute for Quality Education (IQE) https://www.i4qed.org/. Students who do not qualify for a voucher, may qualify for a Tax Credit Scholarship.
To be eligible, a student must meet all of the following requirements:
2022-2023 TAX CREDIT SCHOLARSHIP INCOME GUIDELINES | |
---|---|
Household Size | Household Income |
1 | $75,424.50 |
2 | $101,620.50 |
3 | $127,816.50 |
4 | $154,012.50 |
5 | $180,208.50 |
6 | $206,404.50 |
7 | $232,600.50 |
8 | $258,796.50 |
9 | $284,992.50 |
10 | $311,188.50 |
* Income levels are based on adjusted gross income and are 300% of the cap for Federal Free and Reduced Lunch program guidelines. SGOs may set their income limits lower than 300% if they so choose.