TAX CREDITS
THE HOPE SCHOLARSHIP (TAX CREDIT)
The Hope Scholarship is a federal tax credit which can help reimburse families for the first two years of college tuition. Contact your accountant for information about this tax credit and your eligibility or check the following web site:
http://www.irs.gov/individuals/students/index.html
LIFETIME LEARNING (TAX CREDIT)
The Lifetime Learning Credit is a federal tax credit which can help reimburse families whose members are enrolled in eligible educational institutions. The maximum credit a taxpayer may claim for a taxable year is $2,000 for qualified expenses. If the taxpayer is claiming a Hope Scholarship Credit for a particular student, none of that student's expenses for that year may be applied toward the Lifetime Learning Credit. Contact your accountant for information about this tax credit and your eligibility or check the following web site:
http://www.irs.gov/individuals/students/index.html
