A bill to amend the Internal Revenue Code of 1954 to allow a credit against income tax to individuals for educational expenses.

Allows an individual a tax credit, under the Internal Revenue Code, for educational expenses to one or more educational institutions in providing an education for himself or for any other individual.

Specifies limitations on the amount of credit per individual. Prorates such credit where more than one taxpayer pays expenses.

Defines "educational expenses" as tuition and fees required for the enrollment or attendance of a student at an educational institution, and fees, books, supplies and equipment required for courses at such institution.

Sets forth special rules for adjustment for specified scholarship and veteran's benefits.