Office of the Bursar

2007 Tax Deduction for Higher Education Expenses

The Taxpayer Relief Act of 1997 allows certain taxpayers who pay qualified tuition and related expenses to an eligible educational institution to claim a Hope Scholarship Credit or a Lifetime Learning Credit against their federal income tax liability. Beginning in 2002, a new Deduction for Higher Education Expenses was established. Low- and Middle-income individuals may elect these new tax credits or deduction for tuition expenses incurred by students pursuing college or graduate degrees or vocational training.

Penn State cannot provide individual tax advice and shall not be liable for damages of any kind in connection with this information. Accordingly, you should consult your tax advisor about your specific circumstances.

This information is available in alternative format upon request.