What is the difference between the Hope Credit and the Lifetime Learning Credit?
The Hope Credit can only be taken for an eligible student who is enrolled in the freshman or sophomore years of college in a program leading to a degree. Further, the student must be taking at least one-half the normal full-time work load. Conviction of a drug-related felony disqualifies the student. The Lifetime Learning Credit is useful for students who can’t qualify for the Hope Credit. The Lifetime Learning Credit provides a smaller tax benefit for an unlimited number of years in which the student takes one or more post-secondary educational courses. These courses can apply towards an undergraduate, graduate, or professional degree, certificate program, or other academic credential.
