American Opportunity Credit
For students in their first four years of higher education. Maximum annual credit is $2,500 for qualifying educational expenses.
For more information, consult a tax professional or visit https://www.irs.gov/credits-deductions/individuals/aotc
Lifetime Learning Credit
For those beyond the first two years of college, or taking classes part-time to improve or upgrade their job skills, up to $2,000 credit per tax return can be taken. The credit is available for net tuition and fees (less grant aid) on a per-taxpayer (family) basis. Like the Hope tax credit, higher-income families are not eligible.
For more information, consult a tax professional or visit www.irs.gov/publications/p970.