HOPE AND LIFETIME LEARNING CREDIT WEB SITE

We have gathered together some information concerning the Hope and Lifetime Learning tax credits that we hope you will find useful.

Basic information about these two tax credits Qualified tuition and fees, payment and reporting information For advice concerning these tax credits and the timing or dating of your payments, we suggest that you contact your tax consultant.

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Overview – Hope and Lifetime Learning Tax Credits

The Hope Scholarship Tax Credit is a tax credit equal to 100% of the 1st $1,000 of a student’s qualified educational expenses plus 50% of the next $1,000. The maximum credit is $1,500 per student in each of the first two years of a postsecondary degree program.   Students must be enrolled at least halftime during at least one academic period that begins during a tax year and cannot have had a drug felony conviction.  The credit is allowed for a qualified tuition and related expenses paid in 2002 or in the first 3 months of 2003.

The Lifetime Learning Credit applies to qualified tuition and fees for undergraduate, graduate, and continuing education course work at an eligible education institution. A taxpayer can claim a credit equal to 20% of $5,000 of qualified educational expenses paid for the taxpayer, his or her spouse, or dependent children. The maximum credit is $1,000 per family per year. Starting in 2003, the amount of eligible education expenses increases to $10,000, resulting in a $2,000 maximum tax credit.  The credit is allowed for qualified tuition and related expenses paid in 2002 for an academic period beginning in 2002 or in the first 3 months of 2003.

Limitations related to both tax credits:

Citadel Hope and Lifetime Learning Information


Qualified tuition and related expenses include tuition and fees required for enrollment or attendance of taxpayers, their spouses, or any of their dependents. Qualified expenses do not include room, board, books, athletic fees, and activity fees. Based on the 2001-2002 and 2002-2003 fees of the college, the amounts below are the applicable Citadel fees:
CADETS
Spring 2002 Semester Fall 2002 & Spring 2003 Semesters
In State Out-of-State In State Out-of-State
Registration $12.50 $12.50 $12.50 $12.50
Tuition 62.50 192.50 62.50 192.50
College Fees 1,295.50 4,503.00 1,438.00 5,043.50
$1,370.50 $4,708.00 $1,513.00 $5,248.50

You may also include lab fees and computer fees charged to student accounts.
 
 
 
 

GRADUATE & PROFESSIONAL STUDIES, SUMMER SCHOOL & MAYMESTER


  Spring 2001 Semester Fall 2001 & Spring 2002 Semesters
In State Out-of-State In State Out-of-State
Graduate
Registration $15.00 $15.00 $15.00 $15.00
Per Credit Hour $146.00 $291.00 $162.00 $323.00
Undergraduate
Registration $15.00 $15.00 $15.00 $15.00
Per Credit Hour $141.00 $285.00 $157.00 $316.00

You may also include lab fees and computer fees charged to student accounts.