There is a new stimulus package about education tax credit. If you spend more than $4000 in a single year on education, you will get a $2500 tax credit which is 40% refundable, or up to $1000 cash back.
$2500 education tax credit

Whenever you analyze your financial options or ways in which you can handle your debt you may neglect to include the tax implications of one strategy over another. This is most likely because of how complicated these things can be.

Tax savings is a year long process. It requires a good amount of research too. What you need to do is make some intelligent savings all through the year to escape the reach of the income tax bite. There are other ways also to keep your tax bite at a minimum.