OBERLIN, OH--(Marketwire - January 27, 2009) - Two proposals working their way through Congress that would, for the first time, make the cost of college textbooks and course materials eligible for tax credits would go a long way toward making these important academic tools more affordable for students and their families, according to the National Association of College Stores (NACS).

"Needy college students and their families are faced with a variety of costs in paying for college," said Richard Hershman, NACS' director of government relations. "Expenses such as textbooks and other course materials are both required and vital to a student's academic success, yet are rarely covered by traditional financial aid."

In fact, Hershman noted that the new American Opportunity Tax Credit, which is included in the latest versions of the American Recovery and Reinvestment Tax Act of 2009, marks the first time required course material purchases have been included as an allowable expense for tax credits. Under the current tax code, the Hope Credit can only be used to offset tuition and related fees.

NACS and its members support efforts to enhance affordable and equitable access to quality course materials, and has long been an advocate for including course materials in tax credits and the elimination of state sales taxes on course materials. The inclusion of course materials in the stimulus package is the culmination of strong bipartisan consensus achieved over several years and multiple proposals in Congress.

According to the White House, which strongly supports the measure, the proposed $2,500 American Opportunity Tax Credit would provide a tax cut to nearly 4 million students. Because the tax credit is partially refundable, nearly one-fifth of high school seniors who receive no tax credit under the current system will receive a tax cut to make college affordable for the first time. Combined with proactive campus-based efforts underway to make course materials more affordable for students, the new tax credits will go a long way to help students succeed in school and in the economy.

About NACS

Headquartered in Oberlin, Ohio, the National Association of College Stores (NACS) is the professional trade association representing the collegiate retailing industry. NACS represents more than 3,100 member stores that work daily to serve America's college students while supporting the academic missions of higher education institutions. Additional information on the college store industry can be found online at www.nacs.org.