Tax-saving tip: Lifetime Learning Tax Credit

To everyone I know in grad programs: you are eligible for a tax credit for the year 2009! And not just on your student loan interest. The Lifetime Learning Tax Credit subtracts up to $2,000 in education expenses from your money that can be taxed. Your institution of higher learning should be sending you a form with the information about your qualified education expenses, meaning those you can claim exempt from taxes. I was a little confused at first as to whether the credit only applied to people in undergrad, but apparently it does not. It also applies to those who are part-time students and even people who take just one higher ed class. So, deduct away!