Hope Scholarship Tax Credit: a nonrefundable credit equal (at the time of this printing) to a maximum of $1,650 in out-of-pocket qualified tuition and fee expenses paid by or on behalf of a student for two tax years during which the student is enrolled at least half time in the first or second year of postsecondary education leading to a recognized degree or certificate.
Lifetime Learning Credit: a nonrefundable credit equal to 20% of the $5,000 of qualified out-of-pocket tuition and fee expenses paid by or on behalf of a student enrolled in postsecondary coursework at the undergraduate or graduate level leading to a recognized degree or certificate or to improved job skills.
For more information about the Taxpayer Relief Act, refer to this website which services students at the University of California campuses: www.1098-T.com.