Higher Education Tax Benefits

There are a number of tax incentives that can help lower the cost of higher education.

  • Tax credits reduce the amount of tax you may have to pay
  • Tax deductions reduce the amount of your income that is taxed, which generally reduces the amount of tax you may have to pay

To learn more about these benefits visit: https://www.nasfaa.org/2015_tax_year

You can also use the IRS’s Interactive Tax Assistant tool to help determine if you’re eligible for educational credits or deductions, including the American opportunity credit, the lifetime learning credit and the tuition and fees deduction.