As a state employee who has experienced a 14% wage cut for 2.5 years and a health premium increase of 25% in the last year, it is difficult to imagine how we will be able to pay for educating someone (5th in her class) who wants to be a teacher (though not as sure since she saw her favorite teachers getting layoff notices - the US spends $4 on the elderly for every $1 on the young - whose futures are we saving?).
The American Opportunity Tax Credit will help us send her to a school that can enable that dream. If the United States wants to attract teachers (who are not buried under a pile of debt so that they can actually choose the profession) so that there actually is a future economy, extending this credit past 2012 is a pretty good way to show it.
ANSWER:
Congratulations on your daughter's academic achievements! In addition to the college tax credit, there are many scholarships targeted just for the teaching profession; make sure she researches them. As for the loans, the teaching profession still has the largest number of student loan forgiveness programs available to graduates, both locally, and at the state and national levels.
The college tax credit (if it is extended) will help her reduce the amount she borrows.
