6 Tax Breaks for College Costs

Several tax breaks can ease the financial blow of college costs, whether you’re saving to send your kids to college, paying tuition bills for a child or yourself, pursuing graduate work, or repaying college loans.

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Several tax breaks can ease the financial blow of college costs, whether you’re saving to send your kids to college, paying tuition bills for a child or yourself, pursuing graduate work, or repaying college loans. And some new tax laws have changed the rules and expanded some breaks for education. The following six tips can help you take full advantage of these tax breaks.

Kimberly Lankford
Contributing Editor, Kiplinger's Personal Finance

As the "Ask Kim" columnist for Kiplinger's Personal Finance, Lankford receives hundreds of personal finance questions from readers every month. She is the author of Rescue Your Financial Life (McGraw-Hill, 2003), The Insurance Maze: How You Can Save Money on Insurance -- and Still Get the Coverage You Need (Kaplan, 2006), Kiplinger's Ask Kim for Money Smart Solutions (Kaplan, 2007) and The Kiplinger/BBB Personal Finance Guide for Military Families. She is frequently featured as a financial expert on television and radio, including NBC's Today Show, CNN, CNBC and National Public Radio.