Tax Credits

The American Opportunity Tax Credit/Expanded Hope Credit

Federal taxes for you or your family could be reduced either by creating a tax refund (even if you do not owe taxes) or be freeing up money to pay for college costs. Your family may claim a credit up to $2,500 for the first four years of at least half-time enrollment. Lifetime Learning Tax Credit is up to a $2,000 credit available for postsecondary enrollment at any level. For more information, consult your tax advisor or visit the Web site for IRS publications.