The most important educational tax benefit for 2010 is the American Opportunity Credit.is the most imortant undergraduate credit available for 2010. It can be claimed for tuition and certain fees you pay for higher education. It can be claimed for expenses for the first four years of post-secondary education It is a tax credit of up to $2,500 of the cost of qualified tuition and related expenses paid during the taxable year The term "qualified tuition and related expenses" has been expanded to include expenditures for "course materials." For this purpose, the term "course materials" means books, supplies and equipment needed for a course of study whether or not the materials are purchased from the educational institution as a condition of enrollment or attendance