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  Education Tax Benefits
In August of 1997, the Taxpayer Relief Act was signed into law. IRS Publication 970 "Tax Benefits for Higher Education” explains the various tax benefits and credits for individuals and family members continuing their education.

Consult a tax advisor or financial planner to discuss the advantages and disadvantages of each tax benefit for your family’s situation, if needed. Download a copy of IRS Publication 970 or call the IRS at 800-829-3676 (voice).

IRS Publication 970 explains in detail the following tax benefits and credits:
Education Tax Credits
• Hope Credit
• Lifetime Learning Credit
Education Individual Retirement Accounts (renamed the Coverdell Education Savings Accounts)
Penalty-free withdrawals from Traditional or Roth IRAs
Deduction for student loan interest
Cancellation of certain student loans
Qualified State Tuition Programs
Interest earned on certain savings bonds
Employer-provided Educational Assistance Benefits

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Military Education Benefits


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