Comparison of Education Tax Credits
By on May 20, 2009
|
Hope Credit |
Lifetime Learning Credit |
|
| Amount of Credit | Up to $1,800 credit per eligible student 1 | Up to $2,000 credit per return |
| When Available | Available ONLY until the first 2 years of post- secondary education are completed.1 | Available for all years of post-secondary education and for courses to acquire or improve job skills. |
| Educational Pursuit | Student must be pursuing an undergraduate degree or other recognized education credential. | Student does not need to be pursuing a degree or other recognized education credential |
| Enrollment Requirements | Student must be enrolled at least half time for at least one academic period beginning during the year. | Available for one or more courses |
| Prior Legal Issues | No felony drug conviction on student’s record | Felony drug conviction rule does not apply |
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- For 2009 and 2010, these features fall under the provisions of the American Opportunity Tax Credit. Please refer to these features as described in the Hope Credit section of this report.
