Sunday, February 08, 2009

Stimulus: Billions to colleges and students

Stimulus, Schimulus, what's in it for me? As a hard working middle-aged white guy who got a mortgage I could afford and has a bit saved up in a 401-K (though not as much as last year) - not much. But my kids, who are in college now, and many of the SigEps reading this blog may have a chance at some stimulus largess...
The stimulus plan emerging in Washington could offer an unprecedented, multibillion-dollar boost in financial help for college students trying to pursue a degree while they ride out the recession.

It could also hand out billions to the states to kick-start idled campus construction projects and help prevent tuition increases at a time when families can least afford them.
"We're ready to go, there's great jobs involved, and we're educating kids who wouldn't have other opportunities if we weren't there," Chuck Middleton, president of Roosevelt University in downtown Chicago, said Sunday. His university has a $135 million new building with classrooms, labs, dorms and offices on hold after financing dried up. Construction could be under way in six months, he says, providing 600 jobs for two years while helping Roosevelt's diverse student body.

Also helping students, the House and Senate both call for expanding the Hope tuition tax credit from $1,800 to $2,500 and making it partly refundable. Now, almost half of families with children pay no income tax, so the current tuition tax-credit system doesn't help them (the full benefit kicks in for families earning at least $43,000).
There is more, including the disclaimers about what is getting cut, but lets hope those idiots in Washington stumble over each other and get it right, this time. Maybe there is even hope for the bill authorizing tax deductions for fraternity house building and renovation contributions.

WHO GETS WHAT: Billions to colleges and students - Yahoo! News
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