Education secretary Obamas plan will make college affordable and accessible
on Monday,March 02,2009 23:03
President Obama''s education secretary has discussed the highlights of the proposed education budget for 2010 and the education provisions of the stimulus package.
Arne Duncan stated that the new budget would dramatically expand student financial aid and make it simpler, more reliable and more efficient. He also stressed that it builds on the increases in the recently passed American Recovery and Reinvestment Act (ARRA).
The ARRA would provide an additional $17 billion for Pell Grants for 2009 - 2010 and some $14 billion in tuition tax credits for middle class families.
The new budget, as presented by Duncan, will guarantee additional funding for the Pell Grant and ensure that it keeps pace with inflation; make college loans reliable, stable and efficient, insulating families from the turmoil of the financial markets; and ensure that all colleges and universities take part in the Federal Perkins Loan Program.
In concluding his overview, Duncan said that "[c]urrently, our young people face too many financial and other hurdles to obtaining a college education," adding that the ARRA and the budget proposals go a long way towards remedying this situation.
He added that greater access to higher education will make sure that the young generation of Americans will be able to compete in an information-age economy.
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