Tax Credits

HOPE TAX CREDIT & LIFETIME LEARNING TAX CREDIT SUMMARY OF HIGHLIGHTS

HOPE TAX CREDIT

One of the new tax benefits for adults who want to return to school and for parents who are starting or planning to start to send their children to college will be available due to the balanced budget signed into law in August, 1997. These tax cuts effectively make the first two years of college universally available, and they will give many working Americans the financial means to go back to school if they want to choose a new career or upgrade their skills.

For current information on HOPE Scholarships and Lifetime Learning Tax Credits, please visit the Internal Revenue Service web site:

IRS Tax Information for Students http://www.irs.gov/individuals/students/index.htm
Tax Benefits for Education - http://www.irs.gov/pub/irs-pdf/p970.pdf