New tool may help students save money

New tool may help students save money

During this back-to-school season, students may be happy to learn that the National Association of College Stores (NACS) has launched a website to help them recoup some of the college expenses.

Since textbooks and other course material expenses can now be claimed as a tax credit of up to $2,500 under the newly created American Opportunity Tax Credit, NACS, in collaboration with the Internal Revenue Service, has developed a website to raise awareness of the credit and offer resources to help students understand the details of the credit and how to apply.

"NACS and its members work every day to help make textbooks and course materials as affordable as possible, and have long been advocates for the inclusion of course materials in tax credits," says Rich Hershman, NACS director of government relations.

"[The website] provides individuals with accurate, easy-to-understand information about how to best take advantage of this beneficial program," he adds.

With efforts to control college costs under way across the country, this may be a good time to think about earning a degree or returning to school to finish one. Online degree programs are a great option for working adults who need to balance various life responsibilities.

Studies have shown that salaries of those with college degrees consistently surpass the earnings of those without higher education. According to the U.S. Census Bureau, the average earnings for men with high school education were $42,466 in 2007, while those with bachelors degrees earned $88,843.