You are not a citizen until you are sworn in. If you are denied because of failure to pass the English or the civics test, you will be automatically rescheduled within 90 days. If you are not approved for some other reason, you may be given time to overcome the problem.
For 2009, the American Opportunity Credit--which is a variation of the Hope Credit--will be allowed for 4 years. For years before and after the new credit is allowed, the Hope credit is supposed to be for 2 years.
There are three college-related tax credits, the American Opportunity Tax Credit, Lifetime Learning Credit and the Hope Scholarship Tax Credit, as well as one deduction, the tuition and fees deduction. You may only claim one credit or deduction per child in any given year.