Financial Aid and Your Taxes
To help offset the costs of higher education, the United States government offers tax deductions, tax credits and savings accounts for students and their families. This section contains an overview of Internal Revenue Service programs for those seeking a college degree. For more information, please contact your tax advisor. In addition, information can be found in the IRS Publication 970 (2008), Tax Benefits for Education.
- Coverdell Education Savings Account (formerly Education IRA's)
- The Lifetime Learning Credit
- The Hope Scholarship Credit