You can get a maximum annual credit of $2,500. If the credit brings the amount of tax you owe to zero, you can have 40 percent of any remaining amount of the credit (up to $1,000) refunded to you.
The amount of the credit is 100 percent of the first $2,000 of qualified education expenses you paid, and 25 percent of the next $2,000 of qualified education expenses.
