Parents, students can check out college tax benefits

From Internal Revenue Service

PHOENIX — With back-to-school season in full swing, the Internal Revenue Service reminds parents and students about tax benefits that can help with the expense of higher education.

Two college tax credits apply to students enrolled in an eligible college, university or vocational school. Eligible students include the taxpayer, their spouse and dependents.

American Opportunity Tax Credit

The American Opportunity Tax Credit can be worth a maximum annual benefit of $2,500 per eligible student. The credit is only available for the first four years at an elig...