The federal government provides financial assistance to individuals for higher education expenses in two major ways: tax benefits and traditional student aid (loans, grants, and work-study assistance). Since 1997, education tax benefits have become an increasingly important component of federal higher education policy. In 2021, 11 higher education-related tax benefits are available. The available tax benefits are a mixture of credits, deductions, exclusions, and other incentives. The Joint Committee on Taxation (JCT) estimates higher education-related tax benefits will cost an average of $25 billion per year over the FY2020-FY2024 budgetary window. These tax benefits can be divided into three groups: (1) incentives for current-year expenses; (2) incentives related to the preferential tax treatment of student loan expenses; and (3) incentives for saving for college. This report provides a brief overview of the higher education tax benefits that are currently available to students and their families.