Tax Benefits
You may qualify for tax benefits for paying the cost of higher education. While this brief synopsis is designed to inform you of some programs available, please refer to the IRS Web site (www.irs.gov) and your tax preparer for more information about how these programs will affect your personal tax situation.

All student loan interest payments are now deductible on your federal income tax return. Income limitations apply for taking advantage of this tax benefit.

The Lifetime Learning Credit will allow you to deduct up to $2,000 (based on 20% of the first $10,000 paid) of tuition expenses. Income limitations apply for taking advantage of this tax benefit.