Tax Relief Act of 1997

The Taxpayer Relief Act of 1997 (TRA) provides tax relief to individuals paying for post secondary education. The Hope Scholarship Credit provides an eligible taxpayer with a tax credit of up to $1500 for qualified tuition and related expenses. This credit is available during the first two years of post secondary education.

The Lifetime Learning Credit provides an eligible taxpayer with a tax credit of up to $2000 for qualified tuition and related expenses.

For more information, please visit the Internal Revenue Service's web site at:

http://www.irs.gov/pub/irs-pdf/p970.pdf