A federal tax credit (enacted in 1997) that is available for tuition and required fees less grants, scholarships, and other tax-free financial assistance to borrowers who meet the qualifications of the program. It may provide a family up to $1,500 in tax credit per year per dependent student for the first two years of post-secondary education. The student must be pursuing a degree at least half time to be eligible.
The Hope Scholarship is a tax credit, not a scholarship. For students in the first two years of college (or other post-secondary training), taxpayers can claim a maximum credit of $1,500 per tax year for each eligible student. The credit can only be claimed in two taxable years but not beyond the year when the student completes the first two years of college. The student must be enrolled at least half time in a program leading to a degree, certificate, or other recognized educational credential for at least one academic period during the calendar year. The credit can only be applied against payments made after December 31, 1997 for academic periods beginning after that date. The amount of the credit is phased out at certain income levels. See income phase-out for more information.
The HOPE Scholarship provides a family up to a $1,500 maximum tax credit per year per dependent student.
A state program that covers tuition and mandatory fees at Georgia public universities for Georgia residents who graduate from a Georgia high school with a 3.0 or better (as determined by the high school). Students must maintain a cumulative HOPE GPA of 3.0 to retain the scholarship, and are checked at end of each spring semester and 30,60,and 90 attempted hours for that GPA.
The HOPE Scholarship, created in 1993 by the state of Georgia legislature, is a university scholarship program that has been adopted by several other states. HOPE (a reverse acronym for "helping outstanding pupils educationally") is funded entirely revenue from the Georgia Lottery and is administered by the Georgia Student Finance Commission.