Hope Credit

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The United States federal HOPE Tax credit is a nonrefundable education tax credit of up to $1,650 for each eligible student. However, the credit is only available during the first two years of a student’s post-secondary schooling. Eligible students must be enrolled at least half time or more and be pursuing a degree or other recognized educational credential.

[edit] History

According to “Michael B. Paulsen & John C. Smart in the Book the Finance of Higher Education: Theory, Research, Policy, and Practice page 351& 352.”

The Federal HOPE Tax credit gets its name from the Georgia State Merit Scholarship program, of the Same Name. HOPE (Helping Outstanding Pupils Educationally) although the Georgia state scholarship is a Merit scholarship the tax credit is not. Perhaps this is why the HOPE Tax Credit lacks a definition for what HOPE stands for.

What is clear, is that the Georgia state 1993 Lottery funded HOPE scholarship program pre dates the 1998 Federal Tax credit by 5 years.