|LCCC Financial Aid Office
American College Testing (ACT)
American Opportunity Credit to Pay for College Expenses
The American Opportunity Tax Credit (AOTC) was originally included in the American Recovery and Reinvestment Act and was recently extended for two years as part of the Unemployment Insurance Reauthorization and Job Creation Act of 2010.
The AOTC provides a maximum tax credit of $2,500 for qualified tuition and related expenses for the first four years of post-secondary education. Qualified expenses include tuition, fees, and required textbooks and course supplies not covered by grants, scholarships, or assistance provided by an employer.
This partially refundable tax credit, which replaced and expanded the HOPE tuition credit, is helping to make college more affordable for millions of middle-class families.