What is the American Opportunity Tax Credit? A Guide to Higher Education Savings

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The American Opportunity Credit (AOTC) can make higher education costs more affordable.

According to the IRS, the AOTC "allows taxpaying students or their parents the opportunity to reduce the cost of attending college."

Education Tax Benefits to Offset Education Costs, sponsored by TurboTax

According to TurboTax, "the most generous tax breaks for college costs are the American Opportunity Tax Credit and Lifetime Learning Credit, which offset your tax bill dollar-for-dollar compared to a tax deduction that merely reduces the amount of income subject to tax." 

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