Published: January 4, 2022 | Last Updated: December 1, 2022
An education credit helps with the cost of higher education by reducing the tax you owe on your return.
The American Opportunity Tax Credit is a partially-refundable tax credit for college education. The student must attend at least half-time. The credit is available for the first four years of college education.
The Lifetime Learning Credit is a non-refundable tax credit of up to $2,000 per tax return, where you can claim qualifying expenses for any level of college or education courses to advance or improve job skills. There is no minimum enrollment requirement or limit on the number of years you can claim the credit.