Colleges to Benefit from Proposed Stimulus Bill

While it isn’t quite “Dollar Dollar Bill Y’all“, Wyclef-style, the Federal Stimulus Bill that passed the House yesterday without ANY Republican support, has $150 billion in it for education.

In addition to increased aid to the nation’s school districts, there will be substantial increases in grant aid to needy college students in the form of Pell Grants, etc. This is perhaps the part that would most effect students at Penn State, especially those that rely on federal aid.

There is also $20 billion in the bill for school and college modernization, with schools getting $14 billion and colleges getting $6 billion.

In total, Pennsylvania would get $821,848,000 or $66.02 per capita. Keeping with the proportion of K-12 to college allotment, of that sum, PA colleges stand to have $246,554,400 at their disposal to modernize. The vaguery of “modernize” for both colleges and school district is elucidated here. Keep in mind, this is all contingent on the Senate passing a similar bill, and with the Democratic majority in the Senate not filibuster-proof, that seems unlikely. And money that the state gets for higher education could likely go to the state universities first. However, if these funds do present themselves, what do you think Penn State should spend the money on?

Roland

…and with the Fed buying up government securities with fresh bills hot off the press at U.S. Mint, you bet we can spend AND reduce budget deficit at the same time. Then again, there is that little thing called inflation… Oh well, the government’s just hoping that people won’t question where the money’s coming from. The time to borrow money is now, people, because when it’s time to pay it back couple years later, you’ll be paying much less than what you actually owe.