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Employee Tax Expert
posted Mar 13, 2025 11:56:55 AM

Education: Deductions, Credits, and Answers

There’s no doubt about it, education tax benefits can make a huge difference in your refund. The American Opportunity Tax Credit (AOTC) typically offers the largest tax break. But if you don’t qualify for that, there’s always the Lifetime Learning Credit (LLC). And let’s not forget student loan interest deductions. 

 

So there’s much to learn about education tax benefits. For example, did you know that most stipends and some scholarships could be taxable income to the student? And are you aware of 529 education savings plans where the earnings are tax-free if used for qualified education expenses? Some states even offer tax benefits for contributing to them. 

 

The resources below will help provide the answers you need so you can confidently file your tax returns.

 


BONUS:
Can Debt Forgiveness Cause a Student Loan Tax Bomb?



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