Hope Scholarship Credit Public Law 105-34 (see Title II)

Due to limitations on income eligibility, the HOPE credit mainly supports middle and upper-middle class families and individuals. Families of four who have a dependent student and whose adjusted gross income is less than $17,500 and students who are single with independent status who make less than $6,800 will not receive any benefits from the HOPE credit because it is non-refundable. Low-income families who do owe small amounts of federal income tax can get the Hope credit to cancel out all or part of the taxes they owe. Additionally, the credit is phased out when incomes exceed $100,000.