A decree allowing for tax deduction of private school fees for preschool to high school levels was signed this year by Mexican President Felipe Calderon. The new plan will take effect in 2011,and over time it is expected to promote a much higher earnings potential for the Mexican workforce.
The government declared that the plan will enable deductions to range from 12,900 pesos (equivalent to $1,070 per year),for primary school,to 24,500 pesos a year ($2,033 US) for high school. Calderon also pointed out that,while the decree will not touch the public education budget,it too has shown a remarkable increase from MXN $377 billion in 2006,to MXN $531 billion this year. In addition,the new deductions will be covered by federal government savings.
Records show that over the past four decades there has been a relatively varied number of students in Mexico who attend private schools,but more than 3 million students will benefit from the new measure,and the President hopes it will also allow families to use their income for other expenses.
Currently the Mexican Government is also undertaking additional plans to further boost the country’s education system. Calderon said that they would give special attention to college education programs and will increase efforts to increase the existing financing options. In addition,Mexico hopes to further support and generate additional scholarship programs.