Student Tax Credits
February 7th, 2009
Question: What tax credits can a low-income student take?
My gf only worked enough last year that she made $350 for the whole year, she has gotten extra student loans so that she could pay for rent and vehicle, etc. Besides lifetime learning, hope credit, and interest deductions, is there other ways to get credits – i.e. for low income, or can her bills be counted somehow towards these ?
Answer: If she’s at least age 25, she’s probably eligible for an Earned Income Credit (EIC) of $29 – if she’s under 25 she can’t get that.
With income that low, the credits and deductions you mention won’t save her anything. She won’t owe any tax, so unless she’s eligible for EIC, the only refund she could get would be anything that was withheld for federal income tax.
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Student Scholarship Program
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