Worth Shield Financial Services · Personal planning estimate
Education Credit and Loan-interest Illustration
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College Calculator
College Tax Credit Estimator
Estimate chosen education credits, their tax limits, and a separate student-loan-interest deduction for 2025 or 2026.
Household and Education Expenses
Under OBBBA, the claimant or spouse on a joint return and each dependent student must meet the work-valid SSN and issuance-deadline rules. Do not enter actual SSNs. Review IRS identity requirements.
MAGI is not taxable income. Available tax is the verified Form 8863 credit-limit amount after other credits. Married-separate filers cannot claim these credits or the loan-interest deduction.
Students
Separate Loan-interest Deduction
Enter only deductible qualified loan interest; exclude amounts paid through tax-free 529 distributions or tax-free employer assistance. Dependency, legal obligation and payment qualification must be independently verified.
Understanding Education Tax Credits
Credits reduce federal income tax; deductions reduce the income being taxed. AOTC and LLC have different qualified-expense and eligibility rules. Coordinate tax-free assistance before using the same expense for a credit.
How This Calculator Works
Choose one credit for each student and enter eligible expenses paid for the selected tax year, net of separate assistance allocations. The tool applies income phase-outs, the household LLC ceiling, verified refundability, and your available-tax cap. The loan-interest deduction is shown separately with an optional constant-rate illustration.
Eligibility is not inferred from academic year. Foreign-income/territory MAGI adjustments, scholarship income elections, credit recapture, full-return credit ordering, state tax, and distribution earnings taxation require separate review.
IRS Publication 970 and benefit-specific MAGI worksheetsFrequently Asked Questions
Select one credit per student per year. AOTC can apply to multiple eligible students, while the LLC is capped at $2,000 per tax return, not per student. This tool evaluates your chosen allocation; it does not optimize scholarship elections or choose credits automatically.
Education savings
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