Tax Credits for Educational Costs
Tax Credits for Education Costs
Taxpayers can claim one or two tax credits for expenses paid for post-secondary education.
Hope Scholarship Credit
A tax credit of up to $2,000 is available to parents or students for tuition and fees paid. This credit can be claimed only for two years and applies only to the first two years of college.
Lifetime Learning Credit
This credit is for tuition and fees paid for undergraduate, graduate and continuing education course work. A credit of up to $1,000 may be claimed each tax year.
Coverdell Education Savings Account (formerly Education IRA)
A taxpayer may invest up to $500 per child until the child reaches age 18. Earnings accumulate tax-free and when withdrawn to pay for education expenses are tax-free.
We strongly recommend that you consult your tax advisor when contemplating using these tax savings.
For More Information visit the IRS website.
LeTourneau University
Financial Aid Office
Contact Information
Mailing Address
P.O. Box 7001
Longview, TX 75607
1-800-759-8811 Ext. 4350
Email: finaid@letu.edu
Financial Aid Office Hours
8am – 5pm CST
Monday-Friday
File the 2012-2013 FAFSA at www.fafsa.gov
Federal School Code 003584
Steps to applying for Financial Aid
- Be accepted for admission to LETU
- File the 2012-2013 FAFSA
- If selected for verification, complete the verification form.
After completing Steps 1-3, your file will be evaluated by the financial aid office and an award letter will be sent to your LETU e-mail address.
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