A College Tuition Tax Credit You Probably Didn’t Know About- Season 3: Episode 2
If you’ve ever looked at how much it costs to attend college, you’re likely aware that it doesn’t come cheap. The costs are high, and they seem to go a lot higher every year. When you add up the tuition, fees, housing, along with other miscellaneous costs, even a “low-cost” local university can send you into years of financed debt. So what are your options?
It’s hard to do anything about these expenses by themselves, which means that unless you receive some kind of scholarship, you’ll either have to pay them in full, or hope the school administrators give you a break. But there’s a little-known way that you may be able to recoup some of those costs, thanks to the federal government’s American Opportunity Tax Credit.
You may not have heard of it, but it’s available to you if you qualify, and it just may allow you to get back some of that tuition you’re paying. Find out more details from hosts Johnny Dean and “Professor” Rick Plum, CFP on this week’s episode of Managing Your Financial Future.