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Education Planning

Education Credits

American Opportunity Credit (formerly Hope Credit)*

Up to 100% of the first $2,000 and 25% of the next $2,000 for a total of $2,500 maximum credit per eligible student per year. Reduction for MAGI between $80,000 - $90,000 for single filers and $160,000 - $180,000 for joint filers.

Lifetime Learning Credit

Up to 20% of the first $10,000 (per taxpayer) of qualified expenses paid in 2014. Reduction for MAGI between $54,000 - $64,000 for single filers and $108,000 - $128,000 for joint filers.


*Can be claimed for up to four years.

Student Loan Interest Deduction

Maximum Deduction


MAGI Phase-Outs
     Married Filing Jointly

$130,000 – $160,000
$65,000 – $80,000


The information provided in these web pages is based on internal and external sources believed reliable; however, the accuracy and completeness of the information is not guaranteed and the figures may have changed since the time of printing. Examples are hypothetical illustrations and not intended to reflect the actual performance of any particular security. Please consult your tax advisor for questions relating to your individual situation.

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