By now, everyone knows that the Obama administration’s stimulus bill is designed to get the economy moving again. However, you may not know that most of the bill’s $70 billion for education will go to low- to middle-income individuals.

A major part of the bill is a $13.8 billion tuition tax credit boost called the American Opportunity Tax Credit. This tax credit reimburses 100 percent of the first $2,000 of educational expenses for lower income students. For the next $2,000, students will receive a 25 percent reimbursement. In short, lower income students will receive $2,500 in education reimbursements per year.

The bill also features other benefits for low-income students. Families that do not earn enough to pay income taxes can receive a $1,000 education refund.

"These kinds of incentives from the government don’t come along very often," says Janet Hill, financial aid and education counselor at ClassesandCareers.com, a free online education service. "If people have been thinking of going back to school, now would be the time to do it. If they are hurting financially, they can easily get the money they need to get a degree." These benefits are set to expire after the 2010-2011 school year.

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 Classes and Careers.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 Hill. "All they have to do is visit our form and fill it out. We guide them through the rest."

Have you been putting off a college education because of lack of money? Now is the time to get the money you need. Visit ClassesandCareers.com and fill out their form. An education advisor will help you get your share of the stimulus money and find the best degree program for you.
 

President Obama’s administration is planning on simplifying the federal college aid form.  It currently consists of 153 questions, which many families give up on before finishing.  President Obama is seeking to make the application more user-friendly so more students may attend higher education.

Arne Duncan, Education Secretary announced the changes last Wednesday.  They are trying new avenues, in order to boost college enrollment among low and middle income students.  Duncan said "We need to educate our way to a better economy."  The new form will make the process easier for students and families applying for federal financial aid.

Due to the economic downturn, many students and their families are seeking financial aid.  After the recession the number of applications increased 12 percent to more than 16 million.  In 2007, 58 percent of college undergraduates applied for aid, and 47 percent received it.

Due to the high demand and the fact President Obama wants more people applying; the administration is trying to shorten the online Free Application for Federal Student Aid (FAFSA).  There will be two-thirds fewer screens to fill out.  There will also be a Web application where families can access their tax data already sent to the IRS. 

This tax information will help families answer the questions on the form.  Paperwork shouldn’t stand between students and a college degree.  The administration has a goal set and that is to increase the Pell Grants for low-income students by 75 percent over the next ten years.

There is money out there for education and it just got easier.  Because of the stimulus, over $17 billion has been designated for Pell Grants.  The Federal Perkins Loan Program will also increase to $6 billion in loans every year over the next decade.  There has never been a better time to get an education so sign up today and improve your life.