HOPE Credit: This non-refundable credit can be claimed against federal taxes up to $1,500 per student per year paid for the first 2 years of student's post-secondary education in a degree or certificate program. You can claim this credit for yourself, your spouse and your dependent under age 24.
Lifetime Learning Credit: Starting 7/1/98, this
non-refundable credit can be claimed against federal income taxes equal
to 20% of qualified education expenses incurred on behalf of yourself,
your spouse or any dependents. These education expenses relate to qualified
expenses for undergraduate or graduate-level (and professional degree)
courses.
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