Higher Ed Utah

(ARA) – By now, everyone knows that the Obama administration’s stimulus bill is designed to get the economy moving again. However, you may not know that most of the bill’s $70 billion for education will go to low- to middle-income individuals.

A major part of the bill is a $13.8 billion tuition tax credit boost called the American Opportunity Tax Credit. This tax credit reimburses 100 percent of the first $2,000 of educational expenses for lower income students. For the next $2,000, students will receive a 25 percent reimbursement. In short, lower income students will receive $2,500 in education reimbursements per year.

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