The House Ways and Means Subcommittee on Select Revenue Measures held a hearing to discuss tax incentives for post-secondary education.
Some of the educational tax incentives include the Hope Credit, Lifetime Learning Credit, and deductions of tuition fees and student loan interest. Other benefits, including Coverdell education savings accounts, Section 529 college savings plans, U.S. education savings bonds, federally guaranteed student loans and Pell grants add to the complexity. However, taxpayers must decide which benefits provide the greatest tax savings without violating any rules against double dipping.
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