I have a daughter entering college next year AND I am headed back to earn a PHD so that I can be competitive as a nursing faculty (which is a high need career but requires a OHD or other doctorate to compete).
My dilemma is that although there are nursing faculty loan forgiveness programs, I will not likely qualify as I am not representative of a diverse background and these programs are seeking to increase diversity in nursing schools. I have served over 25 years of my career as a nurse in underserved populations and areas.
The college tax credits are my only form of some relief as I strive to fulfill a need for increased numbers of doctoral nursing faculty and put my two daughters through school.) ================================================== You are right; there is a desperate need for doctoral nursing faculty, and you are lucky to be living in a state with excellent loan repayment programs (with no diversity requirements). But even if there were such requirements in Texas, every state needs faculty for their nursing programs and many of them are trying to lure qualified people to move in, by offering loan forgiveness. You do not have to be bound to one state; move to where opportunities are best.
You are correct in that The American Opportunity Tax Credit can only be used while you are in school, but there are other education tax credits and deductions that can help while you are paying off your loans. Your degree will be useful, necessary and important to yourself and others and I urge you to continue with it.
You are an example of how this credit has value to all taxpayers. You are using it to increase your skillset in an area with huge demand and little supply. If everyone used the college tax credit so wisely, legislators and budget analysts would surely see the benefits to extending the college tax credit permanently.
