PSU news by
Penn State's student blog

Topics

About

Obama Urges Congress to Make College Tax Credit Permanent

In an effort to appeal to college students and parents as the November 2 midterm elections approach, President Barack Obama is pushing Congress to make the American Opportunity Tax Credit permanent.

The credit, which stems from the 2009 stimulus package signed after Obama’s inauguration, allows families of college students to claim up to $2,500 per year on college tuition. Under the stimulus, families could only receive the credit for 2009 and 2010. If the credit becomes renewable, families could claim a maximum of $10,000 per student over four years.

“I am calling on Congress to make this tax credit permanent so it’s worth up to $10,000 for four years of college because we’ve got to make sure that in good times or bad, our families can invest in their children’s future and in the future of our country,” Obama said in a news conference held at the White House Rose Garden.

Because tuition at universities is on the rise, the permanent renewal of the credit will definitely be beneficial for families across the country. Tuition at Penn State rose between 3.9 and 5.9 percent for the 2010-11 school year, and, given past trends, students and families can expect more to come. For many, this credit will ease the growing burden of financing a college education.

According to the Treasury Department, 12.5 million students and families used the credit last year, receiving an average of $1,700.

Will Obama’s push be enough to sway voters to the Democratic party? Only time will tell.

More information on the credit is available here.

Have you or your family made use of the American Opportunity Tax Credit? If not, will a renewal encourage you to reap its benefits in the future? Do you believe Obama’s initiative will help the Democrats in the upcoming election?

About the Author

Ali Fogarty

Ali Fogarty is a senior from the suburbs of Philadelphia majoring in Public Relations and Political Science who's passionate about Netflix and everything bagels.

Comments

More by Ali

If Penn State Were Game of Thrones

In honor of the culmination of another season, we at Onward State found some parallels between Penn State and Game of Thrones.

Distraction of the Day: Duckling Rescue on Video

Post-Grad Life, As Told By Tweets

Athletics

Incoming Penn State Track & Field Athlete Kristian Marche Shot To Death In Philadelphia

The incident surrounding Marche’s death is “under investigation,” according to the Philadelphia police department.

Former Women’s Gymnastics Coach Files Lawsuit Against Penn State Over Handling Of Abuse Allegations

Men’s Soccer Trio, Reading United Win PDL Eastern Conference Title, Fall Short Of National Championship

Penn State Hockey’s Evan Barratt, Aarne Talvitie Participate In World Junior Summer Showcase

Ally McHugh Wins 400 Medley National Championship

Student Life

Nike Releases New Penn State Sneakers

This year’s sneaker is available to purchase online for $109.99.

Penn State Parking Office Runs Into Student Permit Purchase Issues

Girirajan Lab Seeks To Bridge The Gap Between Fly And Human Genomes

Plans Submitted For New KFC In State College

Developers have submitted preliminary land development plans to build a new KFC restaurant at 1780 S. Atherton St. in State College.

Join Onward State: Fall 2018 Application

Onward State is hiring for the fall semester and we’d love to have you join us.

Fall Move-In Traffic & Construction Changes

When 40,000 students need to move back to State College over the course of four days or so, things are bound to get crazy.

Be the first to know

  • Top posts and the best Penn State stories

Thank you for subscribing.

Something went wrong.

Assessing Penn State’s Front Seven Following Tuesday’s Medical Retirements

Penn State’s defensive line rotation will be shaken up following Ryan Buchholz’s medical retirement from football, while the coaching staff is letting the linebackers duel it out during camp.

Send this to a friend