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About Student Loan Tax Deductions and Education Credits
When you use student loan funds to finance your education, if you are eligible, the IRS allows you to claim qualifying expenses that you pay with those funds towards educational tax credits. A tax deduction is also available for the interest payments you make when you start repaying your qualified education loans. Here's more about how student loans and educational expenses can affect your taxes. Read more…

Video: What Is the Lifetime Learning Tax Credit?
Note: The income amounts in this video apply only to prior tax years. It is included here for reference only. The Lifetime Learning tax credit is available to anyone who takes at least one class during the year at a post-secondary school, whether it counts toward a degree or not. Obtain the available tax credits for students with information from TurboTax in this video on annual tax filing. Read more…

Are College Entrance Exams Tax Deductible?
The fees for taking SAT, ACT and other college entrance exams are not tax-deductible, but there are educational deductions and tax credits to help offset your family's college expenses. Find out more about these educational tax deductions and tax credits and how they can benefit you. Read more…

Video: Guide to IRS Form 1098-T Tuition Statement
If you have education-related expenses, you may be eligible for an education credit or deduction. Watch this video to learn more about Form 1098-T Tuition Statement and qualifying education expenses. Read more…

Video: Tax Tips for Students
Students can accumulate tax reimbursements of up to $2,500 for tuition, books and supplies. Find out if you qualify for either the American Opportunity or the Lifetime Learning tax credits with information from TurboTax in this video on annual tax filing. Read more…

More College and Education Articles

Do You Have to Claim Pell Grant Money on Your Taxes? Guide to Tax Form 1098-T: Tuition Statement Video: Top College Tax Deductions and Credits What is Form 1098-E: Student Loan Interest Statement? Tax Tips When Sending Kids to Private or Public Schools Can Debt Forgiveness Cause a Student Loan Tax Bomb? Information on 529 Plans What Are Education Tax Credits? Video: What Is a 529 Plan Contribution? How to Report FAFSA College Money on a Federal Tax Return Are Contributions to School District Programs Tax Deductible? Take Advantage of Two Education Tax Credits Guide to IRS Form 1099-Q: Payments from Qualified Education Programs What Is the American Opportunity Tax Credit? Can I Deduct My Computer for School on Taxes? What is IRS Form 1099-Q? How to Calculate Your Lifetime Learning Tax Credit on IRS Form 8863 The Lowdown on Education Tax Breaks What Is the Lifetime Learning Tax Credit? Are Contributions to Nonprofit Schools Tax Deductible? Tax Tips for Teachers: Deducting Out-of-Pocket Classroom Expenses What is the Educator Expense Tax Deduction? Sending Kids to College Video: Tax Tips for Teachers Tuition and Fees Deduction for Higher Education Learn About the American Opportunity College Tax Credit Tax Tips for New College Graduates Video: What Educational Expenses Are Tax Deductible? Tax Deductions for Voluntary Interest Payments on Student Loans Bigger, Better College Tax Credit What is a 1098-E: Student Loan Interest Cash for College: Tax-Free 529 Plans What Is the IRS Form 8863? What Is IRS Form 8917? Taxes for Grads: Do Scholarships Count as Taxable Income?

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