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Education & Employment

Tax Benefits for Education

Benefit overview

The Internal Revenue Service Publication 970 describes the tax benefits that may be available for taxpayers who are saving for or paying education costs for themselves or, in many cases, another student who is a member of their immediate family. Two of the most common tax credits, which reduce the amount of income tax you may have to pay, are the American opportunity credit and the lifetime learning credit.

How this benefit helps

This benefit saves service members and their families on their federal tax returns by providing a federal tax credit.

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Make sure you know about federal tax credits for education costs

If you are saving for or paying for higher education for you or an immediate family member, you may be eligible for federal tax credits.

How to access this benefit

If you are eligible, you can claim this tax credit when filing your federal taxes. Find out more by visiting the IRS website.

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