News
Education Credits
Posted on September 7, 2010 at 8:35 am
Educational Credits
In 2009 and 2010 there are three different educational credits: American opportunity credit (AOC), Hope credit (for Midwestern disaster area only), and lifetime learning credit.
- The maximum amount of the AOC per eligible student is increased to $2,500.
- The AOC is available for the first four years of post-secondary education.
- Forty percent of the AOC is now refundable.
- The definition of qualified tuition and related expenses includes books.
In 2009, students attending institutions in the Midwestern disaster area are eligible for the doubled maximum $3,600 Hope credit and maximum lifetime learning credit of $4,000. Room and board expenses qualify for the doubled credit.