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Tax Incentives | Community College of Philadelphia

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Tax Incentives | CommunityHigherof Philadelphia Skip to content LocationsHigherCatalog Events Canvas Login Jobs Give MyCCP Search form CommunityHigherof Philadelphia Menu Why Choose Us Paths to Possibilities Programs of Excellence Featured Faculty Admission Process Apply Now Contact Us Getting Started Choosing a Program Admission Process Request Admission Information What Kind of Student Are You? Placement Tests International Students Veterans Prior Learning Assessment Admission Events Webcasts Steps to Enrollment View the Academic Calendar Tuition and Fees Payment Options Apply Now Contact Admissions Paying forHigherTuition and Fees Payment Options Financial Aid Scholarships Tuition Assistance Programs Tax Incentives FAQs Financial Aid Options Get an Estimate of MyHigherCosts Does theHigherOffer a Payment Plan? Apply Now Contact Financial Aid Academic Offerings All Offerings Online Learning Honors Opportunities Transfer Opportunities Professional DevelopmentSultanaBasic Education High School Student Programs Course FinderHigherCatalog View the Academic CalendarStandingProfessional Education Apply Now Search Class Schedule Student Support Academic Advising Career Services Center for Male Engagement Center on Disability Child Development Center Counseling KEYS Learning Labs Library Services Office of Collegiate Recovery Single Stop Student Academic Computer Center Student Success Initiatives Veterans Resource Center Women’s Outreach & Advocacy Center Admission Process Tuition and Fees Financial Aid Apply Now Request My Transcripts Campus LifeHigherEvents Athletics Student Leadership and Involvement Art Around theHigherBookstore Food Services Campus Security Parking Study Abroad Events on Campus Sign Up for a Webcast Admission Process Tuition and Fees Financial Aid Apply NowWell-nighUs 2017-2025 Strategic Plan Institute for Community Engagement and Civic Leadership Key Facts Mission and Goals Institutional ImpactHigherLeadership Offices & DepartmentsHigherDirectory Centers of Excellence Career Opportunities LocationsHigherTV Station Community Services Newsroom Contact InformationHigherPresidentWorkbenchof Trustees Job Openings at theHigherCollege News Apply Now Alumni Association Tuition and Fees Payment Options Financial Aid Scholarships Tuition Assistance Programs Tax Incentives FAQs You are hereHome › Paying forHigher› Tax Incentives |    Text A+ A- A Tax Incentives Video Support Learn increasingly well-nigh tax incentives to help pay for school. Watch these videos to understand tax incentive misogynist to you. Education Tax Benefits and Credits Federal tax laws provide special benefits to help students and parents pay for college. For example, a tax credit allows you to subtract an value from the taxes you owe: Taxes owed  $6,000 Less tax credit –$1,000 Taxes owed  $5000 A tax deduction allows you to subtract an value from the income on which you must pay taxes: Gross income   $25,000 Less tax deduction –$1,000 Taxable income $24,000 Below are unenduring summaries of the tax incentives most likely to goody sultana students. Not all students or parents will qualify for these tax credits. Be sure to obtain a well-constructed subtitle of these tax incentives and consult with your tax counselor surpassing you make financial decisions or use them in filing your federal income taxes. American Opportunity Tax Credit The American Opportunity tax credit allows you to reduce your federal income tax by as much as $2,500 for out-of-pocket tuition, fees and qualified books, supplies and equipment. Learn increasingly well-nigh the American Opportunity Tax Credit Lifetime Learning Credit Up to $2,000 per return may be personal for qualified educational expenses. Learn increasingly well-nigh the Lifetime Learning Credit Student Loan Interest Deduction The maximum interest deduction is $2,500. The loans must have been used to pay qualified financing of attendance, including room and board. Learn increasingly well-nigh Student Loan Interest Deduction Loan Forgiveness For unrepealable curricula, there are loan forgiveness programs available. You need to research these programs carefully, as there are often strict criteria associated with loan forgiveness programs. For increasingly information, visit www.aesSuccess.org or www.studentloans.gov CommunityHigherof Philadelphia CommunityHigherof Philadelphia with increasingly than 70 associate's degree, document and standing education programs is your path to possibilities. 1700 Spring Garden Street, Philadelphia, PA 19130     215-751-8000 Site Map Consumer Info Privacy Statement Right to Know Directory News