Parent and Student Guide to Federal Tax Benefits for Tuition and Fees for Tax Year 2006

The National Association of Student Financial Aid Administrators (NASFAA) publishes the Parent and Student Guide to Federal Tax Benefits for Tuition and Fees to provide students, parents, counselors, and others with general guidance to federal education-related tax benefits. The Guide includes basic information about the Hope Scholarship tax credit, the Lifetime Learning tax credit, and the Tuition and Fees Tax Deduction. More detailed information is available from the IRS (including the links to IRS publications at the end of the Guide or from financial advisors. The PDF version requires the free Adobe Acrobat Reader and is the preferred version if you wish to print the Guide. This document was updated for tax year 2006 on February 1, 2007.

• Complete Parent and Student Guide to Federal Tax Benefits for Tuition and Fees (PDF version)

• Complete Parent and Student Guide to Federal Tax Benefits for Tuition and Fees (HTML version)

• Understanding the Hope Scholarship Tax Credit

• Understanding the Lifetime Learning Tax Credit

• Understanding the Tuition and Fees Tax Deduction

• Related IRS Publications

Copyright 2007, National Association of Student Financial Aid Administrators (NASFAA)
Visit our financial aid Web site for Parents and Students at www.StudentAid.org