International students have access to two primary education tax processes aimed at alleviating the costs associated with higher education: the American Opportunity Tax Credit and the Lifetime Learning Credit. These tax rebates offer significant benefits compared to tax deductions and are contingent upon the type of educational program through which the scholarship was obtained. For instance, scholarships acquired through programs like the Women Empowerment Program may qualify for 100% educational tax rebates and service charge refunds, in addition to other tax treaty benefits.
The American Opportunity Tax Credit is a refundable tax credit that permits up to 100% of the credit to be claimed as a tax payment. Eligibility for this credit is determined based on education expenses incurred under specific types of eligible scholarship grants, as outlined by the US Board of Education (USBOE).
If a candidate or dependent does not meet the eligibility criteria for the American Opportunity Tax Credit, they may still qualify for the Lifetime Learning Credit, a non-refundable tax credit. However, it's important to note that a candidate cannot claim both the Lifetime Learning Credit and the American Opportunity Tax Credit in the same year without approval from the US Board of Education, alongside meeting all academic and financial requirements as an international student on scholarship.
Additional eligibility criteria include utilizing less than 80% of services toward education, completing the tax rebate process, accepting and registering initial credit hours, finalizing state university clearances, and receiving final documents by the student. Tax rebates are processed upon verification of the student's financial records to ensure compliance and are contingent on the student not being under any financial inquiry or blacklist.
These criteria are determined by the US Board of Education, which approves these processes. For more detailed information, please contact us via email at info@usboe.org. We are here to address any inquiries you may have.
At the US Board of Education (USBOE), we are dedicated to championing educational quality and perpetual enhancement, with a central emphasis on educational advancement. Our dedication to serving the public interest, educational community, and students within the educational system encompasses the following:
• Setting and maintaining elevated standards of educational brilliance.
• Offering a framework for institutional self-assessment and impartial peer evaluation.
• Acting as a valuable resource and support network for continuous, meaningful school enhancement and progression.
Accreditation is a crucial aspect of the educational landscape, ensuring that institutions meet predetermined standards of quality and effectiveness. National accreditation typically focuses on career-oriented, vocational, or technical institutions, while regional accreditation pertains to traditional colleges and universities.
In an interconnected world facing various complex issues, addressing global challenges requires collaborative efforts and innovative solutions. From climate change and poverty to healthcare and education disparities, tackling these challenges demands cross-border cooperation, technological advancements, and sustainable practices.
Explore a wealth of grants and scholarships designed to support students in their academic pursuits. From merit-based scholarships to need-based grants, there are myriad opportunities available to help students finance their education and achieve their goals. These resources aim to alleviate the financial burden of higher education and empower students to reach their full potential.
