American Opportunity Credit, Hope Tax Credit and Lifetime Learning Tax Credit For 2009 there are three tax credits available to help offset the costs of higher education. They are the new 2009 American Opportunity Credit, the Hope Tax Credit and the Lifetime Learning Tax Credit. The American Opportunity Credit replaces the Hope Tax Credit for most taxpayers. In order to claim these tax credits, a student must attend an eligible institution of higher education. US institutions provide their students with Form 1098-T verifying the tuition and other required information. Since the Internal Revenue Service has not developed a form for foreign institutions, the University of Toronto will issue a statement to students, upon request, as an acceptable substitute so that you/your parent(s)/spouse can claim the tax credit benefit. You should keep the letter and the Canadian T2202-A together for future reference. The statement is available in March.