As the dust begins to clear on Congress’ stimulus bill, it’s clear there are some big winners, some smaller winners and only a few left out in the cold under the compromise legislation totaling $789 billion.
The package has more than $100 billion for education, including $15 billion to bolster the Pell Grant program through a $500 increase in the maximum grant for needy students. Almost as significant for many students is a two-year American Opportunity Tax Credit, which will provide many low- and middle-income families with a $2,500 annual credit to offset college costs. This credit will be more generous than the current $1,500 credit available through the HOPE Scholarship.
Still, some members of the House of Representatives had wanted even more for K-12 and higher education, only to see those efforts beaten back by Senate moderates.
“A plan of this size was not easy to navigate, and it is not perfect,” said Rep. George Miller, D-Calif., chairman of the House Education and Labor Committee. “But I believe it’s the best possible plan that could be reached swiftly, under challenging circumstances. As the bill moves toward a final vote, here is a look at some of the winners.”
The Big Winners
Low-income students: The $500 Pell increase is the best-possible scenario, since the Senate initially had proposed increases of no more than $400 during the next two years.
