<p>I have learned so much about the whole college application / financial aid process from CC and by reading "Paying For College Without Going Broke." I want to start learning the ins and outs of taking the various available tax credits and/or deductions. </p>
<p>Our situation is a bit unique (isn't everyone's?) in that while we are "currently" (thanks to the new economy) low income, we do have some money set aside in a 529 we will use. The last few years we have paid no income tax, but have received refundable tax credits. We do not itemize deductions and qualify for the Simplified Needs Test.</p>
<p>Depending upon the school my son chooses he will likely have a combination of need and merit based grants and scholarships. From some things I've read I'm afraid we could be in a situation where grants and scholarships cover his qualified expenses and we won't be able to use the 529 money for the amount that is left for us to cover. I find IRS publications a bit daunting. Can anyone recommend a book that details this information?</p>