![Tax Incentives for Education](/wp-content/themes/u-design/scripts/timthumb.php?src=/wp-content/uploads/2013/01/Guest_Post1.png&w=150&h=150&zc=1&q=100)
The cost of postsecondary education is undoubtedly expensive and the amount only rises each year. Along with educational saving programs and financial aid/awards, there are also attractive tax incentives that may help offset the expensive cost of a higher education. Though the specific sets of rules and amounts vary depending on the state, the IRS has put together various programs and credits in order to help offset the cost of postsecondary education. These incentives will either effect the parents or the student; it entirely depends on who is paying for the college expenses and if the student is a dependent or not. There are three different tax credit opportunities—the America Opportunity Credit, the Hope Credit and the Lifetime Learning Credit. There are also tax savvy saving and deduction plans that should not be overlooked. The American Opportunity Credit applies to the first four years of a postsecondary education and is
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