Notice: Undefined index: articledetail in /home/utils/securefiles/securecode/utl_article.cls.php on line 643
Schumer and Snowe unhappy about abandoned tuition tax deduction |
College Loan Consolidation, Federal Loan Consolidation, Private Loan Consolidation, Student Loan Consolidation

America's Top Student Loan Provider

Schumer and Snowe unhappy about abandoned tuition tax deduction

Schumer and Snowe unhappy about abandoned tuition tax deduction
U.S. Senators Charles E. Schumer and Olympia Snowe are seeking answers as to why college tuition tax cuts were left out of the 2008 budget proposal submitted by the Bush administration. Schumer was instrumental in passing a law in 2001 that allotted a deduction of as much as $4,000 to middle-income families and a deduction of $2,000 to families with higher incomes. Schumer contends that the absence of funding for the deduction in the 2008 budget is another example of the president's "misplaced priorities."

Pell Grant Equity Act introduced
Thousands of students will benefit if a new piece of legislation introduced by Representative Buck McKeon and Representative George Miller is passed by Congress. The Pell Grant Equity Act would repeal the "tuition sensitivity" rule that reduces the annual maximum Pell Grant amount for students attending colleges and universities with lower tuition costs. McKeon said that students should not face the prospect of losing grant aid based on the institutions they choose to attend. According to McKeon, the legislation would remove the incentive for low-cost institutions to increase tuition and make more students eligible for the maximum Pell Grant.

Senate approves Pell Grant increase
President Bush has signed a $464 billion spending bill that increases the maximum Pell Grant by $260 to $4,310; furthermore, the bill calls for raising the maximum Pell Grant to $5,400 by 2012. Introduced by Representative David R. Obey, the bill accounts for a 6% increase—the first increase in Pell Grant funding since 2003.

STAR Act reintroduced
After having been introduced by Republican Representative Tom Petri and Representative George Miller about two years ago but never brought to a vote, the Student Aid Reward (STAR) Act was recently reintroduced during a press conference. The press conference's audience, which included numerous students and several members of Congress, heard students and lawmakers talk about the rights of all students to pursue college degrees. Mainly intended to reduce fraud and wasteful expenditures of government funds, the act would provide more money to college students to pay for tuition without burdening taxpayers. The conference was attended by Senator Edward Kennedy, Chairman of the Senate HELP Committee; Representative George Miller, Chairman of the House Education and Labor Committee; Senator Gordon Smith; and Representative Tom Petri.

March summit to address higher education commission's recommendations
At a gathering of business and higher education leaders in New York City, Secretary of Education Margaret Spellings discussed issues relating to higher education and global competition, as well as the importance of reauthorizing the No Child Left Behind Act. Spellings said that she will hold a summit next month that will include discussions of the five areas of impact identified by the Commission on the Future of Higher Education: aligning K-12 and higher-education expectations; increasing need-based aid; expanding affordability through cost transparency; serving adults and other non-traditional students; and using accreditation to support and emphasize student learning outcomes.


Article Title : Schumer and Snowe unhappy about abandoned tuition tax deduction
Comment not found for this article.

Share this story:
  • BlinkList
  • blogmarks
  • Digg
  • Facebook
  • Google
  • Sphinn
  • MySpace
  • NewsVine
  • Simpy
  • StumbleUpon
  • Technorati
  • E-mail this story to a friend!
  • Print this article!
  • Faves
  • Furl
  • Netvouz
  • Slashdot
  • Spurl
  • Yahoo! Buzz

EdFed introduces… Awareness… Learnal
At, EdFed, we proudly introduce 'articles on student loans' and 'Learnal - the journal to learn from', our free newsletter on student loan management, which is sure to keep you informed of the latest events and happenings in the student loan market. To receive your copy of the above just use the RSS feed below and add this to your "My Yahoo", blogs, newstickers, and other similar channels accepting distributable content.
Click here to sign up for our Weekly Newswire now!

How EdFed Helped others!
The service I received from EdFed was unbeatable in comparison to other lenders. They were highly trained and very friendly. I felt confident that they could help me, and they did. I saved $23,261 on my federal loans. Thank you EdFed.
- Jake K.  Omaha, NE
* Your Name: * Your E-mail Address:

We respect your privacy.
* Your Friend's name: * Your Friend's E-mail address:
Include a Message:
+ Privacy Policy

Student Loan Consolidation Info - How to Choose the Right Loan Company

This column is sponsored by Granted, America's top job search engine. The Career Resources column is presented by Granted, America's leading job search engine dedicated to getting people jobs.

Education is one of the most basic right of any human, but with the increase in prices and the costs involved in education this has made these rights turn into a privilege which very few can enjoy. Any normal person today in the whole of United States has to take an education loan at one point of time to pay for their education fees.

read more
Schools Will No Longer Receive Paper FAFSA Forms
(September 20, 2007)

news desk
Stafford Loan Payment Calculator
PLUS Loan Payment Calculator
Loan Consolidation Payment Calculator
Glossary of Terms
Loan Comparison Chart
Scholarship Search
You can always pay more than your scheduled payment on consolidation loans, and thus pay off your loan early without risk of ever being assessed a fee.
US School Directory
Comprehensive List of Schools at which EdFed Assists Students.
EdFed is a FFELP lender with lender identification number 834241.
© Copyright 2020 EdFed. All Rights Reserved.

Home · About Us · Contact Us · News · Sitemap
Career Advice · Tell a Friend · Privacy Policy · Resume Service
Resume Distribution Service · Post Resume · Job Search Course
Sign up for the latest news on student loans.
Email Address:
+ Most Recent Newsletter
+ Newsletter Archives