# American Opportunity Tax Credit (Free Money)



## 46Young (Jan 13, 2011)

A while back, when I was asking if there were any Gov't programs to assist with college tuition (grants, not loans), no one here offered up any leads. Just today, I came to find out about the American Opportunity Tax Credit. As I understand it, it's a federal tax credit (as in 100% reimbursement) up to $2,500/yr, that covers tuition, books, and other education related materials. I believe that it also covers a new computer if your courses require correspondence, as is the case with distance learning. When I combine this with my county's one class a semester tuition reimbursement program, I can basically take seven classes or so at the local college every year, with books, for free. Check with your accountant to make sure it's legit. Hope this helps.


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## TransportJockey (Jan 13, 2011)

It'll help me out! I'm paying out of state tuition and will take any help I can get. Thanks


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## EMS49393 (Jan 13, 2011)

You are my hero today!  I love, love, love this information.  It made me do a snoopy dance right next to this semester's text books.


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## Martyn (Jan 13, 2011)

I use Turbotax to do my taxes and after seeing this topic just messed about with a few figures and Turbotax 'knows' about this tax break, cool  :beerchug:


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## 46Young (Jan 13, 2011)

Enjoy, everyone. spread the word!


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## harryb714 (Jan 14, 2011)

http://www.irs.gov/newsroom/article/0,,id=211309,00.html

Here are some details that might help.


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## Aerin-Sol (Jan 14, 2011)

It only lasts for a few years - I believe 4 - so if you already have a degree or have taken 4 years of classes you aren't eligible.


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