Information about the Education Tax Credits
Education tax credits can help offset the costs of education.
The Internal Revenue Service (IRS) provides tax benefits for education. Some tax benefits can be used to get some of the money back you spend on tuition or loan interest or to maximize your college savings. To find out if you qualify for an educational tax credit and to find out which one is best for you, please visit the Federal Student Aid site for more information.
Here are some highlights you will find at the Federal Student Aid site:
- The American Opportunity Credit
- The Lifetime Learning Credit
- A Coverdell Education Savings Account
- Qualified Tuition Programs (QTPs; also known as 529 Plans)
- Student Loan Interest Deduction
- Using IRA Withdrawals for College Costs