Education tax credits provide federal financial aid to a wide expanse of American taxpayers; however, little research or analysis has been done on these costly programs. There has been little evidence of its link to college enrollment growth. This descriptive paper outlines the establishment of education tax credits, their original intent, and the lack of evidence of effectual federal policy over the past two decades. Thus, the purpose of this article is to assess how the federal government has reached an $18.9 billion annual expenditure for education tax credits with little to show in returns on investment. Further, this paper will provide recommendations needed to increase education tax policy efficacy. Since tax rewards reach more recipients than other forms of federal aid programs, they have the potential to increase college enrollment and educational attainment while providing liquidity-constrained individuals with greater incentive to enroll, persist, and graduate. If evaluated and remediated, education tax credits could positively affect the diversity of college populations, providing additional opportunities for desiring, potential students.