Two education credits may help you reduce your income tax bill. The American Opportunity Tax Credit is worth as much as $2,500 per student for up to four tax years. If the credit brings the amount of tax you owe to zero, up to $1,000 can be refunded. The student must pursue a degree at an eligible college or vocational school. The Lifetime Learning Credit, on the other hand, isn’t refundable, but you may be able to claim it for up to $2,000 for continuing education courses. There’s no limit on the number of years you can claim it. For either credit, you, your spouse or your dependents must have taken post-high school coursework during the tax year. Contact us with questions. © 2025