College can be very expensive. To help students and their parents, here are some ways to offset education costs:

• The American Opportunity Credit can help parents and students pay part of the cost of the first four years of college.
• The Hope Credit can help students and parents pay part of the cost of the first two years of college.
• The Lifetime Learning Credit can help pay for undergraduate, graduate and professional degree courses – including courses to improve job skills – regardless of the number of years in the program.
• Enhanced benefits for 529 college savings plans – certain computer technology purchases are now added to the list of college expenses that can be paid for by a qualified tuition program.
• Tuition and fees deduction, which is an adjustment to income, can reduce the amount of your income subject to tax.