Student Tax Credit

It Pays To Know About the American Opportunity Tax Credit

Did you know you may qualify for a tax credit to help pay for your college fees and expenses? 

The American Opportunity Tax Credit is worth up to $2,500 of the cost of fees and college expenses, and can be claimed on 2009 and 2010 tax returns. College expenses include books, supplies and equipment needed for a course of study – regardless of where they are purchased. You may even be able to claim your computer.

Taxpayers who pay college related expenses and whose adjusted gross annual income is $80,000 or less, or $160,000 or less for married couples, are eligible. Even students who don’t make enough money to file a return should file anyway because they may get up to $1,000 back. To take advantage of this tax credit, you can contact the Volunteer Income Tax Assistance (VITA) program at 1-800-906-9887 or irs.gov. The VITA program offers free tax help to people with low and moderate-incomes (generally, $49,000 and below) who cannot prepare their own tax returns. 

The California Community Colleges encourages students and their parents to learn more about this important tax credit by visiting irs.gov/recovery today.

Click here for information on financial aid available year-round at the California Community Colleges.