Savings 101: Education Tax Lessons Every Parent Should Learn

Back-to-school shopping is a time-honoured tradition. And for families with young children, the bill for pencils, notebooks and a new outfit for the classroom usually seemed manageable.

But just like your kids, that shopping bill keeps growing with each passing year. Soon enough you'll be comparing prices for laptops and furniture for your older child who is moving from home to continue her or his education. And I haven't even mentioned tuition for post-secondary schools yet.

That's why it's important to remember that studying is not just for kids. By learning about the various tax credits and deductions available for students, parents can ensure that this type of homework actually puts money back into their hands.