If you're in school or intend to go to school for further studies, you may qualify for some tax benefits to pursue higher education

There are 2 types of educational credits: Hope and Lifetime
Hope Credit
- Hope Credits applies for the 1st 2 yrs in post secondary educational schools for student senrolled in at least 1/2 time per academic year
- Taxpayer may qualify for up to $1,800 per qualified student per year
Lifetime Credit
- Applies to all years for undergrad, grad and professional schools
- Taxpayer may qualify for 20% for the 1st $10K and up to $2K

Deductible educational expenses include: tuition, books, supplies, transportation expenses to attend qualified educational activities, etc.