Colleges work in academic years, while the IRS uses calendar years. So the reality is, it takes you 5 calendar years to get that four year degree.
One thing I always suggest is that you pay for your last semester of the senior year, before the first semester ends. That way, you pay it all before the end of the fourth calendar year. Remember, education expenses are claimed in the tax year they are paid. It does not matter what year you pay "for".
Then depending on the expenses incurred in that last semester of the senior year, while you would not qualify for the AOTC credit, you very will may qualify for the Lifetime Learning Credit.
