It’s reasonable to be stressed out about the cost of college these days. According to data from The College Board, the average in-state cost of tuition, fees, and board at a four-year public college is $19,548 for the 2015-2016 school year — and it’s a whopping $43,921 at a four-year private college. Yikes!
Fortunately, the IRS is standing ready to help you with those onerous higher-education expenses via the American Opportunity Tax Credit (AOTC).