When the American Recovery and Reinvestment Act (ARRA) was passed in 2009,early in the Obama administration’s tenure, it expanded the popular Hope tax credit for students attending college. This tax credit was designed to help offset college tuition expenses as well as other college related expenses.

Tuition and fees are the main areas that you may claim the credit for. Higher education purchased in 2009 or 2010, primarily, at any level of tradition college, years one through four. The credit is now called the American Opportunity credit and has increased by $700 to $2,500.… Read more at 2008 Taxes.