Worried About the Cost of College? Obama will give you $2,500 a year to go to school!!!

Obama will give you $2,500 a year to go to school

By now, everyone knows that the Obama administration's stimulus bill is designed to get the economy moving again. However, you may not know that most of the bill's $70 billion for education will go to low- to middle-income individuals.

A major part of the bill is a $13.8 billion tuition tax credit boost called the American Opportunity Tax Credit. This tax credit reimburses 100 percent of the first $2,000 of educational expenses for lower income students. For the next $2,000, students will receive a 25 percent reimbursement. In short, lower income students will receive $2,500 in education reimbursements per year.

The bill also features other benefits for low-income students. Families that do not earn enough to pay income taxes can receive a $1,000 education refund.

"These kinds of incentives from the government don't come along very often," says Janet Hill, financial aid and education counselor at ClassesandCareers.com, a free online education service. "If people have been thinking of going back to school, now would be the time to do it. If they are hurting financially, they can easily get the money they need to get a degree." These benefits are set to expire after the 2010-2011 school year.

Fortunately, thanks to a growing number of online education options, degree-seekers can take advantage of President Barack Obama's stimulus bill without leaving their jobs. Sites like ClassesandCareers.com helps degree-seekers get their stimulus money and enroll in online universities.

"We help people learn how to take advantage of this bill," says Hill. "All they have to do is visit our form and fill it out. We guide them through the rest."

If you are a low-income individual and want to get money to go back to school, visit ClassesandCareers.com, fill out their form, and indicate which schools you may be interested in. An education adviser will contact you and help you get your share of President Obama's stimulus money to go back to school.

Find the right school for your needs

It's easy to find an online university that accepts the new Obama stimulus for students
wanting to advance their education. Visit www become.com to be matched with these accredited colleges today.

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Replies to This Discussion

$2500 is less than one semester at any low priced college btw.
Sadly true... But something is better than nothing. Kids are graduating college with such tremendous debt that one really has to consider if the cost of going to a 4 year university will be worth it in the long run??? When I went to college, most students just graduated with a liberal arts degree with no specific career in mind, and were able to get a good job. My friend, who's son is now in college is also insisting that he learn a trade, like becoming an electrician....

To make the cost of college viable these days, it must be with a career in mind. Having a masters degree is now as essential as an undergraduate degree was a generation ago. College grads are a 'dime-a-dozen' and could just as likely end up driving a taxi or waiting tables. Creepy.

My daughter was thinking of going to an art school for college, but thankfully decided to pursue a nursing career, working toward becoming a Nurse Practitioner. Hope she makes good. Gulp.
Just ran across this book which seems interesting....

Edupunks, Edupreneurs, and the Coming Transformation of Higher Education
by Anya Kamenetz

The price of college tuition has increased more than any other major good or service for the last twenty years. Nine out of ten American high school seniors aspire to go to college, yet the United States has fallen from world leader to only the tenth most educated nation. Almost half of college students don’t graduate; those who do have unprecedented levels of federal and private student loan debt, which constitutes a credit bubble similar to the mortgage crisis.

The system particularly fails the first-generation, the low-income, and students of color who predominate in coming generations. What we need to know is changing more quickly than ever, and a rising tide of information threatens to swamp knowledge and wisdom. America cannot regain its economic and cultural leadership with an increasingly ignorant population. Our choice is clear: Radically change the way higher education is delivered, or resign ourselves to never having enough of it.

The roots of the words “university” and “college” both mean community. In the age of constant connectedness and social media, it’s time for the monolithic, millennium-old, ivy-covered walls to undergo a phase change into something much lighter, more permeable, and fluid.

The future lies in personal learning networks and paths, learning that blends experiential and digital approaches, and free and open-source educational models. Increasingly, you will decide what, when, where, and with whom you want to learn, and you will learn by doing. The university is the cathedral of modernity and rationality, and with our whole civilization in crisis, we are poised on the brink of a new Reformation.

About the Author - Anya Kamenetz
Anya Kamenetz is a staff writer for Fast Company magazine. The Village Voice nominated her for a Pulitzer Prize for contributions to the feature series Generation Debt, which became a book in 2006. She has written for the New York Times, appeared on CNN and National Public Radio, and been featured as a “Yahoo Finance Expert.” A frequent speaker nationwide, Kamenetz blogs at Fastcompany.com, The Huffington Post, and anyakamenetz.blogspot.com. She lives in Brooklyn with her husband.

I'm going to see if my library has this. I had thought of having my son CLEP the first two years of college. My biggest worry with this idea, can he stay on our insurance as a "full time student." My guess is no. That's a BIG problem.


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