A modification of the former Hope Scholarship Tax Credit, AOTC provides up to $2,500 a year for eligible postsecondary education expenses including course materials, with gross income limitations and up to 40% of the credit being refundable.
The UK government department responsible for consumer and competition policy, company legislation, employment law, science and research, higher education, and adult learning. Formed in 2009 from the merger of the Department for Business, Enterprise and Regulatory Reform (BERR) and the Department for Innovation, Universities and Skills (DIUS).
The Hope Scholarship Credit was a tax credit that provided financial assistance for higher education expenses but was replaced in 2008 by the American Opportunity Tax Credit.
The Lifetime Learning Credit is a tax credit available to students of any age for any type of study, aimed at offsetting education-related expenses. Worth up to $2,000, it can significantly reduce the amount of tax owed by taxpayers who qualify.
A Master of Business Administration (MBA) is a graduate degree offered by many universities in which the student generally spends two years learning the common body of knowledge in business and a specialty such as accounting, business analysis, finance, management, marketing, or real estate.
An investment vehicle created under the Small Business Job Protection Act of 1996 that allows individuals to make tax-deductible contributions to accounts that accumulate tax-free income if used to cover a beneficiary's qualified educational expenses.
A Tuition Tax Credit is a non-refundable credit offered by the federal government that can be used to offset the cost of college education by reducing the amount of tax owed.
