Everything You Need to Know About Oklahoma’s Private School Tax Credit

Those considering switching to a private school have some tuition help available by way of the new tax credit, as do families whose children already attend private school.

Education reporter Jennifer Palmer’s piece answers the most common questions about how the tax cut works, who’s eligible and when to apply.

The when-to-apply part is critical as there are already 33,000 private school students in Oklahoma paying an average annual tuition just shy of $7,000. That means the tax credit will max out at about 22,000 students. Lawmakers capped that each year so it’s limited to $150 million in 2024, $200 million in 2025 and $250 million in 2026 and beyond.

“Credit amounts are $7,500 for families with an adjusted gross income of less than $75,000; $7,000 for income between $75,001 and $150,000; $6,500 for income between $150,001 and $225,000; $6,000 for income between $225,001 and $250,000; $5,000 for income of $250,001 and above,” Palmer reported.

Home-schooling parents can claim up to $1,000 per student for curriculum, textbooks, tutoring, testing fees and other qualified expenses.

Oklahoma was one of at least 10 states that implemented or expanded programs for vouchers and other state private education subsidies in 2023.

“In the aftermath of the COVID-19 pandemic, during which parents and educators reevaluated their relationship with public schools, lawmakers across the country have eagerly embraced state-funded voucher programs, giving public money to students to attend private schools,” Stateline reported.

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Antlers High School’s only state championship was the 1993 Academic Bowl.

Ciao for now,

Ted Streuli
Executive Director, Oklahoma Watch