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30 Issues: The Debt - Who Pays For College

Thursday, September 23, 2004 - 03:44 PM

In Friday's "30 Issues", we look at the rising cost of college education. Stats indicate that since 1990, tuition has gone up about 25% (far ahead of the rate of inflation). The past few years have seen a flurry of articles about the crushing debt some college and grad school students now face upon graduation.

This week the Times' Greg Winter reported that many loan agencies have been exploiting a loophole in the law that enables them to get more tax dollars that could be spent on needy students instead.

from the Kerry-Edwards website: As president, John Kerry will offer a fully refundable College Opportunity Tax credit on up to $4,000 of tuition for every year of college and offer aid to states that keep tuitions down.

from the Bush-Cheney website: More than 10.3 million students will be able to afford college through President Bush's record $73 billion in financial aid assistance - an increase of $25.9 billion, or 55 percent, over 2001. The President's plan will provide a record $12.9 billion investment in Pell Grants, a 47 percent increase over 2001, to help an additional one million students afford college.

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