You may be eligible for special tax treatment after registering for a class.  The 1997 Taxpayer Relief Act provides education tax incentives for qualified taxpayers. Education tax incentives are available for adults taking classes or pursuing a degree, for traditional-age students and for parents and/or grandparents who wish to help a student with education expenses.

Education tax incentives include:

• Hope Tax Credit (this is not a scholarship but a tax credit)
• Lifetime Learning Credit
• Deductibility of student loan interest
• Education IRA accounts
• Employer-provided educational assistance

More information:

• Families’ Guide to the 1997 Tax Cuts for Education
• Hope Credit
• Lifetime Learning Credit
• Human resource department of your employer
• Contact your tax adviser
• IRS/Department of Treasury (800) 829-1040