Two new education credits were made available in 1998: the Hope Scholarship tax credit and the Lifetime Learning credit. The Hope credit maxes out at $1,500 per year and can be used toward tuition expenses paid after Dec. 31, 1997. (Room, board and book expenses don't qualify.) You can only use this credit for the first two years of post-secondary schooling. Expenses paid after June 30, 1998, can qualify for the Lifetime Learning Credit. This credit maxes out at $1,000 per year, but can be taken in unlimited years.

This form determines the amount of the credit you qualify for.