The Lifetime Learning Credit is a tax benefit designed to help families meet the cost of post-secondary education. The credit applies to tuition and fees for undergraduate, graduate, and continuing education coursework. A family can claim on its tax return a credit equal to 20 percent of $5,000 of educational expenses; the maximum benefit is $1,000 each tax year.

Call the IRS at (800) 829-1040 or your tax consultant for eligibility requirements, or access information online. Educational tax benefit information is also available from the Office of the Bursar (928) 523-9485.