If you have been putting off a college education because of money worries, the Obama administration has come to the rescue. The new American Recovery and Reinvestment Act of 2009 sets aside $30 billion to make schools more affordable and $40 billion for state grants. The Obama administration estimates that this money will enable more students to go to school, thus bolstering the American economy.
Students are the first to benefit from this money. The higher education tax credit was bumped up to $2,500 dollars. An additional $17 billion was designated for Pell Grants. The Federal Perkins Loan Program increased to $6 billion in loans every year. Finally, a federal-state partnership supports a $500 million grant program to improve retention and graduation rates.
"This bill alone makes it a very good time to go back to school," says Tony Balmer, an education analyst. "This administration is trying to remove any financial barriers for people wishing to go to school. But this money won’t be out there forever. People need to act soon."
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 have helped nearly 500,000 degree-seekers get their stimulus money and enroll in online universities.
"We help people learn how to take advantage of this bill," says Janet Hill, an education advisor at ClassesandCareers.com. "All they have to do is visit our site and fill out the form. We guide them through the rest."
"If you have the desire to get a degree, now is the time to act on that desire," says Hill. "The money is available." Visit ClassesandCareers.com and fill out the form. An education advisor will help you get your share of the stimulus money and find the best degree program for you.