The Taxpayer Relief Act of 1997 created a number of new education tax incentives,
including the American Opportunity tax credit, the Lifelong Learning tax credit and a limited
deduction for interest paid on student loans.
Under the Taxpayer Relief Act the term “qualified tuition and related expenses”
means the tuition and fees an individual is required to pay in order to be enrolled
at or attend an eligible institution. Charges and
fees associated with room and board do not
qualify as a tuition or related expense.
If you have questions, please consult your personal tax advisor, or the IRS.
The university cannot provide tax advice.