New Economic Stimulus Plan Could Seriously Impact College Students
Posted 23 Jan, 2009
President Obama’s new $825 billion economic stimulus plan is set to go to the House next week for consideration, and it could be a great boon to struggling students.
In addition the funding that would be sent to state governments and national foundations for health and science, billions of dollars would be allocated to help higher education in many different ways. Following is a summary of how the bill could affect colleges and their students.
Benefits for Students
The new bill would:
- Increase the max Pell Grant by $500 (from $4,850 to $5,350 per eligible student),
- Increase unsubsidized (federal) Stafford loan limits by $2,000,
- Provide $490 million for additional work-study programs, and
- Possibly replace the Hope Scholarship tax credit with a tax credit worth up to $2,500 per student.
Benefits for Colleges
Colleges would also receive considerable benefits, including:
- Funding for school renovation and facility modernization,
- $1 billion in funding for computer & science labs and tech training for educators,
- Funding to states to help public colleges keep from cutting important programs.
See the House Appropriations Committee’s website (http://appropriations.house.gov/) for a detailed description of the bill, and rest assured, I’ll keep you posted on legislation that might help you pay less for college!
All the best,
Deborah Fox
Deborah Fox is the founder of Fox College Funding®, a nationwide company that helps families find creative ways to reduce their college costs.
photo: Red, White, and Blooo by katagaci
Subscribe in a reader
Subscribe by Email
Related Posts
President Obama’s new $825 billion economic stimulus plan is set to go to the House next week for consideration, and it could be a great boon to struggling students.
In addition the funding that would be sent to state governments and national foundations for health and science, billions of dollars would be allocated to help higher education in many different ways. Following is a summary of how the bill could affect colleges and their students.
Benefits for Students
The new bill would:
- Increase the max Pell Grant by $500 (from $4,850 to $5,350 per eligible student),
- Increase unsubsidized (federal) Stafford loan limits by $2,000,
- Provide $490 million for additional work-study programs, and
- Possibly replace the Hope Scholarship tax credit with a tax credit worth up to $2,500 per student.
Benefits for Colleges
Colleges would also receive considerable benefits, including:
- Funding for school renovation and facility modernization,
- $1 billion in funding for computer & science labs and tech training for educators,
- Funding to states to help public colleges keep from cutting important programs.
See the House Appropriations Committee’s website (http://appropriations.house.gov/) for a detailed description of the bill, and rest assured, I’ll keep you posted on legislation that might help you pay less for college!
All the best,
Deborah Fox
Deborah Fox is the founder of Fox College Funding®, a nationwide company that helps families find creative ways to reduce their college costs.
photo: Red, White, and Blooo by katagaci
Subscribe in a reader
Subscribe by Email
Leave a Reply