Free Money: AOTC Claiming Strategies

Once upon a time, the American Opportunity Tax Credit was a pretty simple proposition: Families could get a $2,500 annual tax credit for $4,000 of out-of-pocket college tuition expenses for their dependent student, as long as their income was below the IRS threshold for the credit. However, tax law changes over the past few years have created some opportunities for creative claiming strategies, opening the tax credit up to a larger population.

Budget Proposal and Candidate Positions on Higher Ed Funding

Going to cover all the politics in one post today. President Trump’s budget proposal, released yesterday, proposes some significant changes to higher education funding. In addition, TICAS (The Institute for College Access & Success), in partnership with the Carsey School of Public Policy at the University of New Hampshire, has released a briefing comparing the presidential candidates’ positions on education…

Education Tax Credits: AOTC

Currently two tax credits exist to help defray higher education expenses, the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit. Each is slightly different but for most families, the AOTC is the most beneficial. The maximum annual AOTC credit is $2,500 per student. Eligibility is limited to undergraduates who are enrolled at least half time for at least…

Welcome to my new site!

I’ve changed! And for the better, I think. While it’s probably pretty obvious why I redesigned The College Financial Lady, I thought I’d give you the full background anyway. I started writing this blog 6 years ago, in January 2014. I had made a New Year’s resolution to develop a writing habit. At the time, I was getting a lot…