Over the next two years, many parents and college students will be able to receive a credit to help offset the cost of college. The new credit is called the American Opportunity Tax Credit and expands (and renames) the Hope credit.
Expenses which qualify for the credit include qualified tuition, related fees, books and other course [...]
Saving for college, deductible expenses, and keeping records.
More information may be found at SavingForCollege.com.
Saving for College – Matching your Needs
Education Expenses – Allowable Deductions
Education Expenses – Reporting Requirements