Education Tax Credits and Deductions

There are two tax credits available to offset the costs of higher education by reducing the amount of your income tax:

• American opportunity credit
• Lifetime learning credit

The requirements for using these credits vary. The determination of your eligibility to use the credits and to what extent they may be used is based on your citizenship, filing status, and level of income, among other factors.

The IRS allows additional educational deductions outside of these two credits. For more information, see IRS publication 970. Note that this link may not contain information about the newest Tax Cuts and Jobs Act passed in December 2017.

Note: Cornell can not act as a personal tax consultant. The contents of this page are for informational purposes only. All U.S. citizens and foreign national visitors to the U.S. are personally responsible for knowing the tax laws and how they pertain to him/her individually.