Economic Stimulus Benefits Higher Education

The economic stimulus plan that was just passed increases the maximum Pell Grant, which helps the lowest-income students attend college, from $4,731 currently to $5,350 starting July 1 and $5,550 in 2010-2011. That would cover about 75% of the average cost of a four-year college. And, 800,000 more students, or about 7 million, would now get Pell funding.

The stimulus package also increases the tuition tax credit to $2,500 and makes it 40 percent refundable. Therefore, families who don't make enough to pay income tax could still get as much as $1,000 in extra tuition help.

In addition, computer expenses will now be an allowable expense for 529 college savings plans - a big plus for online degree seekers!

Altogether, the package spends an estimated $32 billion on higher education - so don't get left behind. Find out more about what is available for you and get started earning your college degree.