By Paris Jackson

EUGENE, Ore.--College tuition costs continue to climb, but there's a college tax credit that may be able to help. The American Opportunity Credit is part of President Obama's stimulus package.

The AOC is aimed at students and parents to help balance higher education expenses. Either the student or the parent can take advantage of it when filing their 2009 income tax form.

The tax credit is for 2009 and 2010 tax filings.  Qualifying college students and parents can claim a tax credit.  They also receive a refund check from the IRS on college-related expenses, such as books and supplies even if they don't owe any income taxes.

Those who are eligible can qualify for up to $2,500 tax credit per student and up to 40% or $1,000 may be refundable.

Students said this is good news, even though some wish it was a bigger tax break.

"It's very expensive to go [to college]. So this tax back for all of our supplies and books is absolutely beneificial for me and my family," said University of Oregon student Hayley Britt.

Meanwhile, UO student Anthony Kincaid agrees, "It definitely sounds like something that would be helpful and important to a lot of college students, not only just me."

The tax credit is available to single individuals making $90,000 dollars or less and to married couples who file jointly and whose income is $180,000 or less.

For further clarification, the Oregon Student Assistance Commission suggest students or parents get a copy of the IRS Publication 970.

If you want to know if you meet the qualification requirements, click here.