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What are the Hope credit and the Lifetime Learning Credit?
The Hope credit is a tax credit for tuition and related expenses incurred in the first two years of college. If you qualify, you can claim a tax credit of up to $1,800 per student in 2008 and 2009. After the first two years of college, you will generally take the Lifetime Learning Credit.If you live in parts of the Midwest hit by floods and tornadoes in the spring and summer of 2008, you may be eligible for expanded benefits from the credit.Return to Questions
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