Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The United States federal HOPE Tax credit is a nonrefundable education tax credit of up to $1,800 for each eligible student. Students in a qualified Midwestern disaster area may receive up to $3,600. The credit is for up to 100% of the first $1,200 and 50% of the second $1,200 of any college-related expenses, including tuition and supplies, during a taxable year. You may not take the Hope Credit if you elect the Lifetime Learning Credit or the education income exclusion for withdrawals from an Education IRA.