Now you see it, Now you don’t
How has the recent government stimulus affected your college plans? There was the American Opportunity Tax Credit. And the broadening of 529 plans to cover computers and internet service. Stimulus = Good, right? Not really.
Now that the “stimulus” has run its course, the real effects are coming. The U.S. News and World Report notes that federally funded work-study jobs will drop by 162,000 to 768,000 for the 2010-2011 academic year. Why? No more “stimulus”.
Students hoping to earn a little extra cash on campus this fall will have a tougher time as the number of federally funded work-study college jobs nationwide will drop by 162,000 to 768,000 for the 2010-2011 academic year. Why? No more “stimulus.”
Or this: Thirty-nine states used “stimulus” money to keep public colleges and universities afloat. Families are likely to see large tuition increases as “stimulus” funds run out. Virginia is in the middle of this where “stimulus” funds reduced a possible 15% budget cut to 4%. State tax revenues are unlikely to increase nearly enough to offset this lost transfer payment.
Perhaps it was less of a stimulus and more of trying to buy some time. The time is running out. In this changing landscape, don’t rely on the government to come up with answers for your family. We can help you with your plan.
