Some of the most generous tax benefits available to middle-class America are meant for college planning. These benefits, which may either come in the form of a tax deduction or tax credit, can save you thousands of dollars for paying college tuition or funding your state’s Section 529 account.
Perhaps the biggest tax breaks that remain unused are the Hope Scholarship and the Lifetime Learning Credit, both of which can put $1,500 – 2,000 right back into your pocket at tax time. Sadly, many parents are completely unaware they can claim these benefits.
