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A Guide to Educational Tax Credits and Deductions Kimberly Lankford © (Getty Images) Cropped shot of an attractive young woman going through paperwork while doing her budget at home College is expensive, but several valuable tax breaks can help ease the pain. You may be able to cut your tax bill by up to $2,500 if you re paying college tuition, and you may even get tax credits to help cover the cost of continuing education classes to improve your job skills. Interest you pay on student loans may be tax-deductible, and you can use tax-advantaged savings to pay for a computer or private school, in addition to college costs. Recently expanded benefits can help families with new education needs because of the coronavirus pandemic, and some strategies can help you make the most of these tax breaks to stretch your savings.

United statesDepartment of educationDistrict of columbiaSan diegoMelody thorntonTracie millerJane rubinMary morrisTim toddAmerican instituteAmerican opportunity credit for collegeAustin community collegeConsulting groupCpas financial literacy commissionUs department of educationLifetime learning credit for grad school