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 Several tax benefits are available to help families meet the cost of
postsecondary education. These tax benefits are intended to help
students and their parents fulfill a variety of educational
objectives. Taxpayers can claim one or, in some cases, two tax credits
for expenses they pay for postsecondary education for themselves and
their dependent children. These tax credits can directly reduce the
amount of federal income tax. The Hope Scholarship Credit is available
on a per-student basis for the first two years of postsecondary
education, while the Lifetime Learning Credit applies on a tax-return
basis and covers a broader time frame and range of educational
courses.
Certain information (1098T) that you will need to determine your
eligibility for either of these credits must be provided by Emory
University for each tax year. In addition, if you have paid any
interest on a Campus Based or Emory Loan during the tax year, a 1098E
form will also be generated.
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