On January 2, 2024, Georgians set a new record: in under 24 hours they filed nearly $190 million in tax‑credit applications, instantly exhausting the state’s $120 million cap for the year. The Department of Revenue (DOR) responded by approving just 63 % of each request to distribute the limited credits as fairly as possible.GOAL Scholarship
That head‑spinning demand is great news for K‑12 students, but it also means prospective donors need a game plan if they want in next time. Below is a deep dive into what happened, why the cap fills faster every year, and six action steps that can secure your spot — while expanding scholarship access for Georgia families.
Inside Day 1: The Numbers Behind the Frenzy
- $190 million in requests vs. a $120 million cap → $70 million over‑subscribed.
- $95.4 million of those applications came from supporters of the Georgia GOAL Scholarship Program alone, underscoring GOAL’s role as the state’s leading Student Scholarship Organization (SSO).GOAL Scholarship
- Statewide demand jumped $36 million above 2023 levels, a year‑over‑year increase of roughly 24 %.GOAL Scholarship
Because the cap is fixed by statute, DOR “prorated” approvals to 63 % of the amount each donor requested. In practical terms, a married couple who applied for the maximum $5,000 credit was authorised to redirect $3,150 instead.
Why Interest Keeps Surging
a) Dollar‑for‑Dollar Value
A credit reduces taxes far more powerfully than a deduction, and Georgia allows every filer type—from individuals to C‑corps—to participate.
b) Tax Reform Synergy
Recent federal changes let many pass‑through businesses treat Education Expense Credit payments as federally deductible business expenses, making the program a double win.
c) Proven Impact
A 2023 audit by the Department of Audits and Accounts calculated up to $61.4 million in annual taxpayer savings while citing multiple studies that link K‑12 choice programs to higher test scores and college attainment.GOAL Scholarship
d) Human Stories
Since launch, GOAL alone has delivered over 28,000 scholarships across 141 counties, with more than 90 % benefiting students from families earning below 250 % of the poverty level.GOAL Scholarship Word travels fast when opportunities touch that many lives.
The Cap: Can It Rise Again?
In 2022 lawmakers raised the ceiling from $100 million to its current $120 million and removed the program’s sunset clause. Even that bigger pot disappeared in a day. Advocates now point to the $70 million in unmet 2024 demand as evidence the cap should climb higher—both to satisfy donors and, more importantly, to serve thousands of additional students shut out by proration.
How Proration Works (and Why It Hurts Families)
When credits are oversubscribed, DOR applies a uniform percentage cut. That keeps things fair on paper, but in practice it means:
- A school expecting $500,000 in scholarship dollars may receive only $315,000.
- Families already accepted for aid could see awards reduced mid‑process.
- Additional students—often those with the greatest financial need—lose out entirely.
Put simply, unmet donor demand translates into unmet student need.
Six Steps to Lock In Your 2026 Credit
- Apply Early—Really Early
GOAL opens its online application each June for the following calendar year. Completing the two‑minute form now is the single best way to avoid proration in January. - Request the Maximum
If you’re comfortable contributing up to your statutory limit ($2,500 single / $5,000 married filing jointly / $25,000 pass‑through owner / 75 % of GA liability for C‑corps and trusts), request it. You can always contribute less, but you can’t increase later if the cap fills. - Designate a School
Directing funds to a specific GOAL partner campus strengthens ties with your community and ensures dollars follow students you care about. (Remember: individual students cannot be named.) - Set Calendar Reminders
After DOR approval, you have 60 days to send your contribution. Put the deadline on every device you own so an easy‑to‑earn credit doesn’t slip away. - Coordinate With Your CPA
Business owners may unlock a federal deduction on top of the state credit. Ask your advisor how the payment should be booked for optimal benefit. - Spread the Word
More donors applying before January 1 means a greater share of the cap is spoken for at the moment it opens—reducing proration risk for everyone.
Pro tip: You can start your application through GOAL’s secure portal in under two minutes. Finish your coffee, finish the form—done.
Parents: What the Cap Means for You
Even with proration, GOAL disbursed tens of millions in tuition aid last year. Still, each proration cycle leaves deserving students on the wait‑list. The best strategy:
- Apply for admission and a GOAL scholarship as early as your chosen school permits.
- Follow up with the school’s financial‑aid office to confirm your application is complete.
- If an award is reduced due to proration, ask about school‑based gap funding or other aid sources.
Need a refresher on eligibility or the application path? Our Scholarships for Georgia Families guide walks you through every step.
Looking Ahead: The 2026 Opportunity
Based on current trends, observers expect 2026 demand to land north of $200 million—unless the General Assembly raises the cap again. Either way, the clock will start at midnight on January 1, 2026, and the fund could be gone before lunch. If you want your tax dollars working for Georgia students rather than the general fund:
- File your GOAL application before December 31, 2025.
- Encourage friends, colleagues, and clients to do the same.
Stay engaged with policy updates advocating for a higher cap.
Key Takeaway
The Education Expense Credit isn’t just popular—it’s oversubscribed by 60 % and still rising. Acting early is no longer optional; it’s the only way to secure your full credit and help fund scholarships that transform Georgia students’ lives.
Sources: Georgia Department of Revenue announcement, January 2 2024; Georgia GOAL press release “Georgia Education Tax Credit Applications Exceed $120 Million Cap,” January 4 2024; Department of Audits and Accounts, “Qualified Education Expense Credit Program Analysis,” June 2023.