Category

Tuition Assistance

Category

By Troy Onink
Contributor to Forbes

Taxpayers who paid qualified college tuition and fee expenses in 2014 may be able to claim the American Opportunity Tax Credit (AOTC) worth up to $2,500 per eligible child. Despite repeated calls for simplifying education tax incentives, frequent legislation submitted in Congress and ongoing confusion between taxpayers and the IRS about how and when to claim the various education tax credits, no one has succeeded in simplifying the mess, yet. The good news? The credit is available through 2017. That means $10,000 of tax savings per child in the next four years. Following are the rules to claim the credit properly, with links to the forms and instructions.

Research shows that the average student loan debt of veterans hovers around $56,000. And according to the Bureau of Labor Statistics, the unemployment rate for veterans between the ages of 18 and 24 hovers near 21 percent.

That combination of high student loan debt and few jobs has certainly been troublesome for some military veterans. As author Hayley Fox points out in this article for TakePart, military programs exist to help those in educational debt, but gaps in coverage remain, and the system can be confusing and hard to navigate.

The good news: the non-profit Leave No Veteran Behind.

Nonprofit Pays Off Educational Debt for Vets Uncle Sam Can’t Help