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Home > Future Students > Paying for College > Financial Aid > Education Tax Credit > Lifetime Learning Tax Credit

Lifetime Learning Tax Credit

Education expenses paid on or after July 1, 1998, are eligible for the Lifetime Learning credit. Lifetime Learning tax credit applies to tuition and fees for undergraduate, graduate and continuing-education course work taken part-time to improve or upgrade job skills.

A family can claim a credit up to 20 percent of $10,000 of eligible educational expenses paid. The maximum benefit is $2,000 each tax year. Eligible education expenses are reduced by scholarships, grants and other tax-free tuition benefits. The Lifetime Learning Credit is taken in that year expenses are paid and education either begins that year or the first three months of the following year. The credit is indexed for inflation. Refer to IRS Form 8863 for the maximum credit amounts for your tax return.

NOVA Tax Information Office 703.323.2402

Hours: 8:30 a.m. to 5:00 p.m., Monday through Friday
(February 1 to April 15)

  • If you have questions about the information reported on your 1098-T for the Hope or Lifetime Learning Tax Credits, call this office for assistance.
  • If you have questions about interest deductions for qualified student loans that were reported on your 1098-E, call University Accounting Service Inc. at 1.800.999.6227.
  • If you need a copy of a receipt for qualified expenses for credit or non credit enrollment, call this office for assistance.

What you need to do.

IRS Resources