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How Obama Can Help Pay Your Tuition
Find out how President Barack Obama plans to change education.
By Lauren Bayne Anderson
April 21, 2009
President Barack Obama has vowed to make education a top priority. But what does that mean for you?
According to Education.com, America lags behind many nations in the world when it comes to making college affordable.
To make college more affordable for Americans, Obama plans center around two goals: his American Opportunity Tax Credit and freeing up more money for aid by using public instead of privately funded loan providers.
Obama said his tax credit will ensure that, “The first $4,000 of a college education is completely free for most Americans, and will cover two-thirds the cost of tuition at the average public college or university,” he says. “And by making the tax credit fully refundable, my credit will help low-income families that need it the most.”
[Editor’s Note: The American Recovery and Reinvestment Act of 2009 included a scaled-back version of the American Opportunity Tax Credit as a modification to the Hope Scholarship tax credit. The legislation increased the maximum credit to $2,500 (100% of the first $2,000 in tuition, fees and course materials and 25% of the next $2,000), expanded it to four years from two, and made the tax credit partially refundable. In addition, the income phaseouts were expanded and the tax credit is no longer subject to the Alternative Minimum Tax (AMT). These improvements are temporary, for the 2009 and 2010 tax years only. However, President Obama has proposed making the improvements permanent in his FY2010 budget.]
Additionally, Obama says he wants to make math and science education a national priority, noting that 80 percent of the fastest growing occupations are dependent upon a knowledge base in science and math, yet studies show American students do not graduate with the skills needed for these fields, Education.com reported.
According to Obama, “A truly historic commitment to education — a real commitment will require new resources and new reforms.” He said, “It will require a willingness to break free from the same debates that Washington has been engaged in for decades — Democrat versus Republican; vouchers versus the status quo; more money versus more accountability. And most of all, it will take a President who is honest about the challenges we face — who doesn’t just tell everyone what they want to hear, but what they need to hear.”
For more information on Obama’s education initiatives, visit Education.com
desi8488
2 months ago
Hello im a 23 year old female who's fasfa was denied because of 2010 tax returns.Ive actually completed a full month of classes. As of July 2011 I have been homeless. This is redicilous that I can't further my education because of an old part time job, which I was laid off from. Anyone know of any help?!?
kathrinewalls56
5 months ago
I am a Black American 57 year old 3.15 student that attended the University of Phoenix. During my studies there I was not informed that my Federal Student Aide would run out as quickly as it did. Nor did my financial adviser inform me that he had been promoted and was leaving. I became aware mid-way through my final class with the University of Phoenix. Upon top of this I have been billed $1060.00 that would interfere with my perhaps finding other means to continue my education. I now am unable to receive my transcripts after all my hard dedicated work toward my academics and degree. I feel as though this school failed me, I done my part by working hard, staying focused and dedicated to my studies. When the day is over I need someone out there to help me further my education, receiving my transcripts, and continuing my dream for my educational goal. I want to be an example for my children's children that no matter the age, race, or obstacles persistence endures and just may accomplish the task at hand.
caseyf9090
about 1 year ago
I am a 29 year old female going back to school for the third time. I have paid some loans off and some of them are now in default. The school I want to attend is $23,000 a year including all other cost. Is is possible for me to recieve the financial assistance I need?
mrobeng
over 2 years ago
I applaud Obama and his willingness to give to those who are trying but can't afford it regardless to race. For those who commented before me its not necessarily about race unless you make it about race. Better your life and don't down-grade others just because you feel that the economy is going back to the depression in the 1920's. LIVE LIFE TO THE FULLEST is what i encourage to EVERYONE. Better yourself in a better way. Be better than your parents and make a difference in life so that your child would wanna make a difference as well. That's all Obama is trying to do, is better the economy better yet the country. Open your eyes and smell the coffee. You'll see in the latter parts of his presidency. =D Just pray about it!!!! student loans and financial aid blog
JuicyJasmine28
over 2 years ago
How does this help students that have yet graduated from high school?.
Account Removed
over 2 years ago
This is Great! Hopefully all goes planned!
mrobeng
over 2 years ago
This is a great plan by obama. Do yourself a great favor by Consolidating school loans so as to reduce your monthly payments and make great savings.
Deryelle
over 2 years ago
Where do you sign up??
MatthewV249
over 2 years ago
It's a tax credit. You have to pay it first. Then Uncle Sam re-imburses you at tax time (if you pay taxes to begin with). Since when is the government responsible for college educations? This is more of the entitlement society saying "gimme more!". More government involvement means more regulation. It hasn't worked yet.
Who paid for Obama's education?
theclaw27
over 2 years ago
it is government, of course the signing up part is near impossible to find.
ahmerikasuiteheart
over 2 years ago
ok let get this on the road. i know i need this money. where do we sign up
MickyB4
over 2 years ago
No one is against assistance from the government as long as it is tied to results. The government is funded only one way. Taxes. If the government can't do it efficiently and help those that are legitimately in need of help then its more costly than the benefit it reaps. So we must consider the future costs and not just what you see in front of you today. If it costs $10,000 to give someone a $6000 education through government, DO NOT DO IT! That isn't a good value, no matter who is paying for it. Furthermore, many people get government assistance and never report that their employers have already reimbursed them for their fees. The greatest about being reimbursed is that once they reimburse you, you have the money to pay for the next school year in one bulk payment, and your education ends up costing you nothing if you do it right, and it ends up only costing the employer and no other tax payer. That is the most efficient way.
tlc123
over 2 years ago
So, uh, when is this suppose to actually happen? “The first $4,000 of a college education is completely free for most Americans..." Well, the "first", what if I'm already past my "first" 4,000 paid?
lpifer
over 2 years ago
scollier20: Why is Ford the only motor company still doing relativley well? They're the only ones who didn't take gov't assisstance.
scollier20
over 2 years ago
Ok I want to know why so many people are against the idea of assitance from the government? I think this is a good idea even if you don't get the 2/3 tuition some help is better than none. And the whole idea is to help more people go to college so they can do better for themselves and their futures. Not everyone has a gpa of 3.5 or higher so they're search for scholarships is very narrow. In other words if you don't believe in helping others because you have your way just don't comment on topics like this, because I want to make something out of myself but my family doesn't have the means to fund four years or more of college by themselves.