Hope Scholarship Tax Credit

[NAP]

Hi!

I am just starting to think about wrapping up my first 60 credits into an AS degree at Excelsior College next year.

If I pay to enroll and continue to take CLEP exams only for credit (no classes), would I be eligible for the Hope Scholarship Tax Credit (to pay the enrollment and graduation fees)?

The part I am unsure of is the requirement to be enrolled and taking a part-time load. (I will be getting enough credits but not through classes.)

Does anyone have any experience with this?

Thank you very much for your help!

Just wanted to post an update –

It was hard to tell because I asked several questions, but I think the response I received from the financial aid office at EC to my question about the Hope Scholarship Tax Credit was to consult my accountant. (Of course, I do not have one, so I am back to trying to figure it out on my own.)

While I was waiting for a reply, I had read through the college application and saw this statement. “Students in examination-based programs, including the associate degrees in nursing, are not eligible for federal financial aid, but may qualify for institutional scholarships.” That may be the real answer to my question.

There are some other tax credits and deductions to consider, which may or may not be a better fit for this scenario.

American Opportunity Tax Credit
Lifetime Learning Tax Credit
Tuition and Fees Tax Deduction
Education Savings Bonds

If anyone gets more information about this, please let us know.