Hope & Lifetime Learning Credits
These are credits you can take on your tax return (and reduce tax) for qualified education expenses as detailed below:
|
Hope Credit |
Lifetime Learning Credit |
|
Up to $1,500 credit per eligible student |
Up to $2,000 credit per tax return |
|
Available ONLY for first 2 years of postsecondary education |
Available for all years of postsecondary education |
|
Available ONLY for 2 years per eligible student |
Available for an unlimited number of years |
|
Student must be pursuing a degree or other recognized educational credential |
Student does not need to be pursuing a degree or other recognized educational credential |
|
Student must be enrolled at least half time for at least one academic period during the year |
Available for one or more courses |
|
No felony drug conviction on student's record
|
Felony drug conviction rule does not apply
|
