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MARQUETTE -- Nearly 12.5 million people investing in a college education used President Obama's $2,500 tax credit last year.  The tax credit is available to anyone who pays college tuition and makes less than $80,000 a year on their own or a combined $160,000 a year with their spouse.  People who know about it are taking advantage of the tax credit, but not everyone knows the money is available to them. 

"I had no idea, no idea about it at all," says NMU student Caitlyn Thompson.

Tax accountant Lloyd Houle says that the credit is easy to miss if you're not tax-savvy or you don't have a private accountant.

"It's a very popular credit; it's a well known credit for everyone using professional preparers, I can tell you that...but if they're just doing it by hand or they're walking into H&R block and aren't asked the right questions, there's a chance they might miss it," says Houle.

The students we spoke with at NMU hadn't heard of the tax credit before we talked to them, but they say that had they known, they would have taken advantage of it.  They also say it's a shame that the tax credit is set to expire at the end of the year because college students appreciate all the help they can get.

"Most of the problems that happen in school are because kids can't afford it, they need more money, that's what everyone's struggling with when they come to school; anything to help kids get some money up here, I know what it's like to be a broke college student," Thompson adds.

"I have to work two jobs to support myself with all the money I spend at school and that I give the school, so any money I could gain that the government would give me would be a great help," says Anthony Bernardi, also an NMU student.

The American Opportunity Tax Credit was signed as part of the economic stimulus bill of 2009.  The credit is set to expire on December 31, but Wednesday, President Obama made the following statement:

"I am calling on Congress to make this tax credit permanent so it's worth up to $10,000 for four years of college.  Because we've got to make sure, in good times or bad, our families can invest in their children's future and in the future of our country," says President Obama.

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