One thing that’s been slowly happening since Barack Obama became president is a steady overhauling of college financial aid. The most recent is the introduction of the American Opportunity Tax Credit. At the same time, educational tax credits are not new. They’ve been around for nearly a decade. That doesn’t mean Obama hasn’t worked them over. Those earning college degrees online and at a traditional college would do well to understand all these provisions.
Actually, another credit was already there. Called the Lifetime Learning Credit, it was introduced in 2001 with the Hope credit. The Lifetime doesn’t offer as much as the Opportunity credit, yet it covers a larger portion of the population. So one should take the bad with this greater good.