Okay, tax benefits can be used to get back some of the money you spend on tuition or loan interest or to maximize your college savings.
how do they help me?
They help offset the costs of college by reducing the amount of your income tax.
Did you miss filing a tax return this year?
no I filed
can you give me an example of one of these credits?
Okay, The Lifetime Learning Credit allows you to claim up to $2,000 per student per year for any college or career school tuition and fees, as well as for books, supplies, and equipment that were required for the course and had to be purchased from the school.
are there others?
There is the American Opportunity Credit which allows you to claim up to $2,500 per student per year for the first four years of school as the student works toward a degree or similar credential.
what does the coverdell savings account do for me?