The HOPE Scholarship Tax Credit, like the American Opportunity and Lifetime Learning Education credits, allows students and their families to receive $2500 in tax relief on their annual Federal tax returns in order to defray the costs of college tuition. Eligible working students and their families...
Cannot claim with other education credits: You cannot claim the Hope Credit in the same tax year for the same student if you are also claiming the Lifetime Learning Credit or the Tuition and Fees Deduction. However, you can choose which credit to claim if you are eligible for multiple educa...
The 1997 creation of the Hope and Lifetime Learning Tax Credits marked a dramatic shift in the way in which federal support for college expenses is distributed to students and their families. Unlike other aid programs, the tax credits have exceptionally broad eligibility requirements, and there is...