How does the Lifetime Learning Credit different from the Hope Credit?
Unlike the Hope Credit: • The Lifetime Learning Credit is not based on the student’s workload. It is allowed for one or more courses. • The credit is not limited to students in the first 2 years of postsecondary education. • Expenses for graduate level degree work are eligible. • There is no maximum period for which the credit can be claimed for each eligible student. • The amount you can claim as a credit does not vary (increase) based on the number of eligible students for whom you pay qualified expenses.
Unlike the Hope Credit: The Lifetime Learning Credit is not based on the student’s workload. It is allowed for one or more courses. The credit is not limited to students in the first 2 years of postsecondary education. Expenses for graduate level degree work are eligible. There is no maximum period for which the credit can be claimed for each eligible student. The amount you can claim as a credit does not vary (increase) based on the number of eligible students for whom you pay qualified expenses.
