Combining studies with work is a reality for many people. Now the Community of Madrid has launched an autonomous deduction that will allow young people who study and work to save up to 400 € per year in the tuition of their undergraduate university studies or Higher Vocational Training cycles.
The deduction, which will be applied as of this academic year, may represent up to 50% of the total amount paid for tuition, with a maximum limit of 400 € in the regional income tax return. To benefit from it, it is essential to be under 30 years old, to be enrolled in a complete course -either university degree or higher vocational training in public or subsidized centers of the Community of Madrid- and to prove a real work activity for at least five months of the corresponding academic year.
Who are excluded from this autonomous deduction?
Internship contracts (even if they are paid) are excluded from the aid, and it is required to have an ordinary employment contract and to be registered with the Social Security. The objective, as explained by the Community, is to encourage the double effort of those who are being trained and, in addition, actively contribute to the local productive fabric, which, according to its criteria, leaves out students on internships.
This deduction, endowed with an initial budget of six million euros,is expected to benefit around 15,000 students each year. Among the reasons for the measure, the regional Executive highlights the high rate of labor insertion of vocational training graduates in Madrid (more than 75% on average), as well as the desire that no young person should have to choose between studying and working.
In order to apply the deduction, beneficiaries will have to keep the proof of payment of tuition fees, accredit their student and worker status, and include the data in the regional income tax return for the corresponding fiscal year.