Hochul’s decision opens the door to millions of dollars for educational resources for K–12 students and families across the Empire State
WASHINGTON, D.C. – Today, Invest in Education Foundation applauded New York Governor Kathy Hochul’s decision to opt the Empire State in to the new Federal Scholarship Tax Credit program (FSTC), a significant step toward expanding educational opportunities and unlocking millions of dollars in new, privately funded resources to support K–12 students in public and non-public schools across New York.
The Foundation praised Governor Hochul for her leadership and commitment to putting students first by ensuring New York families can benefit from this new federal program, which launches on January 1, 2027.
“Governor Hochul’s decision is a tremendous win for New York students and families. By opting in to the Federal Scholarship Tax Credit program, New York can unlock millions of dollars in new, privately funded scholarships to support students in both public and non-public schools,” said Anne Lesser, President and CEO of Invest in Education Foundation.
“This is an opportunity to bring new educational resources into communities across the Empire State, helping families access everything from tutoring and specialized educational services to extended day programs. We commend Governor Hochul for putting students first and we look forward to working with her team, scholarship granting organizations, and education partners to help make this program a success,” Lesser stated.
The FSTC program allows eligible taxpayers to receive a 100 percent federal tax credit of up to $1,700 annually for charitable contributions to qualified nonprofit scholarship granting organizations (SGOs). Those organizations then award scholarships to eligible K-12 students in public and non-public schools to cover qualified educational expenses such as tutoring, special education services, extended day programs, educational technology, instructional materials, and more.
Governor Hochul’s decision comes following months of public support for the program. With the addition of New York, 31 states have announced participation in the Federal Scholarship Tax Credit program, opening the door for millions of families to gain access to additional resources that can help meet their children’s individual educational needs.
With the program’s launch approaching, Invest in Education Foundation continues to work with states, SGOs, schools, nonprofit organizations, families, and other stakeholders to provide information about the program and support implementation efforts.