Which of the following is a common tax credit aimed at higher education expenses?

The Lifetime Learning Credit is a tax credit specifically designed to help individuals cover the costs associated with higher education. This credit allows taxpayers to receive a percentage of qualified education expenses, such as tuition and fees, as a direct reduction in their tax liability. Unlike some other education-related credits, the Lifetime Learning Credit can be claimed for an unlimited number of years and does not require the student to be pursuing a degree or enrolled at least half-time, making it accessible for a wide range of educational pursuits, including non-degree courses.

The other options provide different types of financial relief. The Earned Income Tax Credit primarily benefits low- to moderate-income workers and is based on their income and number of dependents, focusing on work-related income rather than education expenses. The Child Tax Credit provides financial support to families with qualifying children, reducing the federal tax owed by a specific amount per child rather than addressing educational costs directly. The Premium Tax Credit helps eligible individuals and families pay for health insurance obtained through the Health Insurance Marketplace, rather than covering education-related expenses. Thus, the Lifetime Learning Credit stands out as the only choice that directly supports higher education costs.