I think get to deduct the first 5250 from your income but that's it.
If you are on the 5 year track then that is accurate. It's roughly 10K for every 6 credits. So with just spring and fall, you'll be doing 12 credits a year. You need 60 to graduate. You'll probably end up taking some winter and summer courses to speed things up.
Are there any tax benefits to those who pay the full tab out of their own pocket? Obviously they would not have to pay the tax on the reimbursement over 5K. I guess you could apply the 20K to a tax credit of some sort ever year?