Education Tax Credits

Under the American Recovery and Reinvestment Act of 2009 and extended by the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 authorizes a tax credit of up to $2,500 each year for out of pocket higher education expenses for textbooks and other required course materials, tuition, and fees in 2009 through 2012.However, students and families need to keep a record of their expenses to be eligible.

For more information: Go the the IRS website or the National Association of College Stores has a special website to help families understand the tax credit.