Are any federal tax credits or deductions available for tuition and fees payments?
• The Hope Scholarship Tax Credit addresses the first two years of college. It allows taxpayers to claim a tax credit of up to $1,650 per eligible student for each year. • The Lifetime Learning Credit is for college juniors, seniors and graduate students. The Lifetime Learning Credit allows taxpayers up to a maximum $2,000 tax credit per return. Alternately, you may be eligible for a tax deduction. Eligible taxpayers can deduct qualified, limited educational expenses from adjusted gross income. The tuition deduction allows for a reduction of income subject to tax by up to $4,000. For more information on tax benefits, see the Tax Information web page. Fees: 1. Is University hospital insurance required? University hospital insurance is required for all full-time students who do not have other hospitalization coverage. All students, new and returning, who do not wish to participate in the Northwestern plan must submit a waiver (including evidence of comparable medical coverage through ano
• The Hope Scholarship Tax Credit addresses the first two years of college. It allows taxpayers to claim a tax credit of up to $1,650 per eligible student for each year. • The Lifetime Learning Credit is for college juniors, seniors and graduate students. The Lifetime Learning Credit allows taxpayers up to a maximum $2,000 tax credit per return. Alternately, you may be eligible for a tax deduction. Eligible taxpayers can deduct qualified, limited educational expenses from adjusted gross income. The tuition deduction allows for a reduction of income subject to tax by up to $4,000. For more information on tax benefits, see the Tax Information web page. Fees: 1. Is University hospital insurance required? University hospital insurance is required for all full-time students who do not have other hospitalization coverage. All students, new and returning, who do not wish to participate in the Northwestern plan must submit a waiver (including evidence of comparable medical coverage through ano
