This will be extremely helpful for me this year. It will enable me to pay off a portion of my debt and attend summer courses ( which have been too expensive for me in the past) to help me finish up my schooling faster. This is a crucial step in showing citizens that education is important and most importantly possible.
ANSWER:
I think any way that students can use this tax credit to reduce their college loan debt, they should. Whether its taking summer courses so you can graduate earlier (and take out fewer loans) or paying off the interest on loans that are deferred while you're in school- everyone should think about ways to use this credit so that it can have the greatest impact on their pocketbook.
Taking those summer courses will not only help you graduate faster, but it will reduce the other incidental expenses that somehow we never figure into our budgets for college. You are using the college credit money in a way that guarantees that it will ultimately be worth more than the $2,500 you might get initially.
