Yes there are, you can earn tax benefits to get back some of the money you have spent on education, which will maximize your college savings
Where can I find more information on Qualified Tuition Programs?
The best advice is to contact the financial aid or admissions staff at your school, they can help you with all of this
I am interested in the Student Loan Interest Deduction scheme, can you give me further information about this please?
If you took out a student loan for yourself, your spouse or your dependent, you can avail of a tax deduction for any interest that was paid on these loans. This tax benefit applied to all loans that were taken out for education, not just federal student loans. The maximum deduction that you can avail of is $2,500 per year
Can you give me some more information on tax credits that are available for higher education expenses?
There are currently two types of tax credits available. Thes credits offset the costs of tuition, fees, books, supplies or equipment which ultimately reduces the amount of income tax that you pay
Do you normally file an annual personal tax return?
No, I have never done so up until now
Is it possible to withdraw from an IRA to help with college costs?