Question: Jerome is single and cannot be claimed by anyone as a dependent. He is a student at a local university enrolled full-time in an MBA

Jerome is single and cannot be claimed by anyone as a dependent. He is a student at a local university enrolled full-time in an MBA program. His tuition bill was $5,000. He paid the bill by withdrawing $2,000 from his savings account and borrowing the remainder from a local bank. For purposes of the educational tax credits, what is the amount of Jerome's qualifying expenses?

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