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Education Tax Incentives


American Opportunity Credit (AOC)

The American Opportunity Credit (AOC), is available for qualified tuition and related expenses:

 

  • The maximum amount of the AOC is $2,500 per student.
  • In 2017 the credit is phased out if your modified adjusted gross income (MAGI) is between $80,000 and $90,000 for single filers ($160,000 and $180,000, if you file a joint return). The phase out is the same in 2016.
  • Generally, 40% of the AOC is now a refundable credit for most taxpayers, which means that you can receive up to $1,000 even if you owe no taxes
  • The term 'qualified tuition and related expenses' includes expenditures for 'course materials'. For this purpose, the term 'course materials' means books, supplies, and equipment needed for a course of study whether or not the materials must be purchased from the educational institution as a condition of enrollment or attendance


Investments and Insurance products:

NOT FDIC INSURED NOT BANK GUARANTEED MAY LOSE VALUE
NOT A BANK DEPOSIT NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY


Securities and advisory services are offered through Santander Investment Services, a division of Santander Securities LLC. Santander Securities LLC is a registered broker/dealer, Member FINRA and SIPC and a registered investment advisor. Insurance is offered through Santander Securities LLC or its affiliates.