Yes, the credit may be claimed no more than for the first four tax years of postsecondary education for each student. (Freshman, sophomore, junior and senior years.) The credit is $2,500 per student. This is 100% of the first $2,000 plus 25% of the next $2,000 of qualified tuition and related expenses paid during the tax year, including first three months of the next year paid before year end of the current year. This occurs when a taxpayer pays for January, February and March of the next year in December of the current year.