Skip Navigation Links

Blog

Both House and Senate Include Higher Ed in Stimulus Bills

January 27, 2009

by Scholarships.com Staff

It's looking like federal student financial aid will be increased in the forthcoming economic stimulus package, at least based on the legislation presented in each house of Congress in its current form.  While the House stimulus bill contains more aid for education, the Senate bill also proposes higher education tax benefits and increases in Federal Pell Grant funding.

The House bill promises:

  • $15.6 billion to increase the Pell Grant by $500 to $5,350 and fully fund the increase
  • $490 million to Federal Work-Study
  • $12.5 billion over the course of 10 years to offer a $2,500 tax credit that will be 40% refundable for those who would otherwise make too little to qualify
  • $6 billion to higher education infrastructure
  • $1.5 billion to improve energy efficiency for colleges, schools, and local governments
  • $39 billion to school districts and state colleges
  • $25 billion to states for "high priority needs" which can include education
  • a $2,000 increase in loan limits on federal Stafford Loans

The Senate bill appropriates:

  • $13.9 billion to increase the Pell Grant by $281 in 2009-2010 and $400 in 2010-2011 and fully fund the increase
  • $12.9 billion to create a 30% refundable $2,500 tax credit
  • $61 million to Perkins Loans
  • $3.5 billion to improve energy efficiency and infrastructure on college campuses
  • $39 billion to school districts and public colleges
  • $25 billion to states for "high priority" needs which may include education

The House bill also includes money to improve financial aid administration and further assist student loan lenders, while the Senate bill will allow computers to be counted as education expenses towards which 529 plans can be used.  The bills are facing some Republican opposition, especially regarding education spending, as it's been argued that construction projects and increases to student financial aid will not directly and immediately benefit the economy.  As Congress and the White House continue to hash out the details of these bills, amounts are likely to change.  But for now, it appears that colleges and college students may receive a little extra financial aid from the government this year.


Leave a comment

Sorry, the comment form is closed at this time.

Recent Posts

Tags

ACT (19)
Advanced Placement (24)
Alumni (16)
Applications (76)
Athletics (17)
Back To School (72)
Books (66)
Campus Life (444)
Career (115)
Choosing A College (41)
College (918)
College Admissions (225)
College And Society (271)
College And The Economy (330)
College Applications (141)
College Benefits (282)
College Budgets (205)
College Classes (437)
College Costs (454)
College Culture (548)
College Goals (386)
College Grants (53)
College In Congress (78)
College Life (500)
College Majors (212)
College News (502)
College Prep (164)
College Savings Accounts (17)
College Scholarships (129)
College Search (109)
College Students (375)
College Tips (99)
Community College (54)
Community Service (40)
Community Service Scholarships (26)
Course Enrollment (18)
Economy (96)
Education (24)
Education Study (28)
Employment (36)
Essay Scholarship (38)
FAFSA (49)
Federal Aid (86)
Finances (68)
Financial Aid (361)
Financial Aid Information (38)
Financial Aid News (32)
Financial Tips (35)
Food (44)
Food/Cooking (27)
GPA (80)
Grades (91)
Graduate School (54)
Graduate Student Scholarships (19)
Graduate Students (63)
Graduation Rates (38)
Grants (61)
Health (38)
High School (128)
High School News (62)
High School Student Scholarships (143)
High School Students (258)
Higher Education (110)
Internships (525)
Job Search (167)
Just For Fun (96)
Loan Repayment (33)
Loans (39)
Military (16)
Money Management (134)
Online College (20)
Pell Grant (26)
President Obama (19)
Private Colleges (34)
Private Loans (19)
Roommates (99)
SAT (22)
Scholarship Applications (154)
Scholarship Information (141)
Scholarship Of The Week (227)
Scholarship Search (182)
Scholarship Tips (71)
Scholarships (361)
Sports (61)
Sports Scholarships (21)
Stafford Loans (24)
Standardized Testing (45)
State Colleges (42)
State News (33)
Student Debt (76)
Student Life (499)
Student Loans (130)
Study Abroad (66)
Study Skills (214)
Teachers (94)
Technology (111)
Tips (479)
Tuition (92)
Undergraduate Scholarships (35)
Undergraduate Students (154)
Volunteer (45)
Work And College (82)
Work Study (20)
Writing Scholarship (18)

Categories

529 Plan (1)
Back To School (351)
College And The Economy (463)
College Applications (244)
College Budgets (333)
College Classes (548)
College Costs (704)
College Culture (904)
College Grants (132)
College In Congress (123)
College Life (868)
College Majors (321)
College News (823)
College Savings Accounts (55)
College Search (382)
FAFSA (108)
Federal Aid (118)
Fellowships (23)
Financial Aid (638)
Food/Cooking (76)
GPA (277)
Graduate School (106)
Grants (71)
High School (480)
High School News (207)
Housing (172)
Internships (564)
Just For Fun (202)
Press Releases (1)
Roommates (138)
Scholarship Applications (183)
Scholarship Of The Week (302)
Scholarships (547)
Sports (73)
Standardized Testing (58)
Student Loans (220)
Study Abroad (60)
Tips (742)
Uncategorized (7)
Virtual Intern (531)

Archives

< Mar April 2014 May >
SunMonTueWedThuFriSat
303112345
6789101112
13141516171819
20212223242526
27282930123
45678910

Follow Us:

facebook twitter rss feed