1. Hope Scholarship

2. Lifetime Learning Credit

3. Student Loan Interest Deduction - Taxpayers who have taken loans to pay the cost of attending an eligible educational institution for themselves, their spouses or their dependents may be eligible to deduct interest they have paid on student loans. The maximum deduction for 2002 is $2500, and filers do not need to itemize deductions to claim it.

Please note that lending institutions and/or loan servicing agencies are required to provide IRS 1098-E to borrowers who paid qualified student loan interest during 2002. The IRS 1098-E reports the amount of interest you paid on your student loan in 2001. If you have not received your interest information in the mail, please contact your loan servicing agency.

For the loans specifically administered by Columbia University (Federal Perkins, Crown Loans, Columbia University Loans, Nursing Loans, Health Profession Loans, etc.), the servicer for these loans, AFSA, will be providing 1098-Es to students in early February 2002. For more information about the student loan interest deduction and interest paid on these loans, please visit ACS's web site at or contact AFSA at (800) 826-4470.

For all other student loans, the lending institutions and/or loan servicing agencies are required to provide the IRS 1098-E to borrowers who paid qualified student loan interest during 2002.