11 Education Tax Credits and Deductions for 2022

Whether you're saving for college, currently paying tuition, or dealing with student loan debt, there's probably an education tax break that can help your bottom line.

picture of college graduates holding diplomas
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Ben Franklin once said, "an investment in knowledge always pays the best interest." And if you're going to college to further your education and expand your mind, Uncle Sam offers a few tax breaks that can increase the return on your investment.

Some of the federal education tax credits, deductions, and exemptions are for people who are saving for college, while others help pay for tuition and books while you're a student. There are also tax breaks that help with student loan debt once your days in the classroom are over. However, the rules can be tricky, and sometimes you can't take advantage of one tax break if you already claimed another. So, it's important to be up to date on all the rules all the time. Here's a breakdown of 11 education tax breaks that can help you pay for college. No matter where you are on your quest for knowledge, there's probably a tax break that can help your bottom line.

Rocky Mengle
Senior Tax Editor, Kiplinger.com

Rocky was a Senior Tax Editor for Kiplinger from October 2018 to January 2023. He has more than 20 years of experience covering federal and state tax developments. Before coming to Kiplinger, he worked for Wolters Kluwer Tax & Accounting and Kleinrock Publishing, where he provided breaking news and guidance for CPAs, tax attorneys, and other tax professionals. He has also been quoted as an expert by USA Today, Forbes, U.S. News & World Report, Reuters, Accounting Today, and other media outlets. Rocky has a law degree from the University of Connecticut and a B.A. in History from Salisbury University.