President’s FY 2015 Budget Recommends Tax Breaks For Students
On Monday, White House officials outlined in broad terms several of the President's tax priorities from his proposed fiscal year 2015 federal budget. Among the key provisions, his FY 2015 budget asks Congress to make permanent the American Opportunity Tax Credit, currently set to expire in December 2017. The administration says the credit will provide an average benefit of $1,110 to 11.5 million families. The benefit provides up to $2,500 in partially refundable tax credits for tuition. President Obama is also proposing a simplification…
5 Tips for Managing Student Debt
Heather loves National Public Radio and offering free advice to student loan borrowers and their families. She got to enjoy both last week as she sat down with Public Radio International's nationally-syndicated talkshow host Tavis Smiley to discuss how to avoid student loan debt or what to do once you’re in student loan debt. Listen to the interview here. Heather's Five Tips for Managing Student Loan Debt: 1. Everyone should fill out the Free Application for Federal Student Aid (FAFSA). 2. Students should choose…
U.S. Will Earn $66 Billion From Student Loans
Thanks to our friends at The Chronicle of Higher Education for bringing this story to our attention. In an article by Mark Keierleber, the Chronicle notes that a recent report from the U.S. Government Accountability Office projects that the U.S. will generate nearly $66 billion in income from loans issued from 2007-2012. The report, "Federal Loans: Borrower Interest Rates Cannot Be Set in Advance to Precisely and Consistently Balance Federal Revenues and Costs," highlights the difficulty in trying to predict what cost of future…
Proposed Bill Aims to Bolster Accountability
U.S. Senators Chris Murphy (D-CT), Brian Schatz (D-HI), and Patty Murray (D-WA) have co-signed a bill that would establish benchmarks for college access, affordability and outcomes. Dubbed the “College Affordability and Innovation Act of 2014,” the bill also proposes the establishment of a competitive grant program to fund a series of pilot programs at a handful of institutions that wish to test innovative higher education programs. Among the bills key proposals: Establishes a 15-member commission on higher education accountability…
Congress Passes FY 2014 Budget; What You Need to Know
In stark contrast to last year's bitter budget standoff between House Republicans, Senate Democrats, and President Obama that shut down the federal government for 16 days in October, Congressional budget negotiators reached an agreement last week that specifies funding priorities and allocations for the federal government through Sept. 30, 2014. Striving to avoid another government shutdown and its harmful effects to the still-fragile U.S. economy, House and Senate budget negotiators have been wrangling over how to allocate money…
