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Between my wife and I we have 2 small cd's each worth the same amount. There is enough to pay off my daughters first college loan. I have heard that it is okay to use this money for education without any penalties. I have not sent in my taxes yet. I was going to take the Hope credit for the year 1998. If I can take the money to pay the first year loan, can I still take the Hope credit? If I wait till after April 15 would it make any difference? And if I do this either way can I still take the credit next year??

Thanx in advance for your help,
And what a wonderful website this is!
Jim
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