Education Tax Benefits - 2025 (Text Based)

Few advantages are as sought after by parents for their children as an education that will enable them to grow professionally and enjoy the benefits such an education can help bestow. The federal government supports and encourages their efforts to provide that education through various programs and income tax incentives.

This course will examine the programs, credits, deductions and federal income tax treatment of various items that affect saving for and financing an individual's education. In so doing, it will consider:

1. Qualified tuition programs;
2. Coverdell education savings accounts;
3. The education savings bond program;
4. Federal tax credits for education;
5. The federal tax treatment of scholarships, fellowships, grants and tuition reductions; and
6. Deductions available for student loan interest.

Learning Objectives:

1. Identify the features and tax benefits of qualified tuition programs available under IRC §529;
2. Recognize the limits and tax treatment of contributions to and distributions from a Coverdell education savings account (ESA);
3. Identify the tax treatment of interest earned under qualified U.S. savings bonds used to pay certain education expenses;
4. Apply the American opportunity and lifetime learning credit rules;
5. Recognize the tax treatment given to scholarships, fellowships and other types of educational assistance; and
6. Apply the federal income tax rules applicable to student loan interest, student loan cancellations and repayment assistance.

Instructional Method: Self-Study

Review Date: 10/22/2025

Required Components: Written Materials

CPE Final Exam Required Passage Grade: 70%

Please Note: This course must be completed within 1 year of the date of receipt of this course for CPE Credit

Prerequisites:  None

Level: Basic

NASBA Category:  Taxes

Recommended CPE:  5

For more information regarding administrative policies such as refunds, cancellations, and complaints, please contact FurtherEd at (912) 666-6282.

FurtherEd is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.