Update on the Economic Stimulus Package & Higher Education
Both the U.S. House of Representatives and U.S. Senate versions of the stimulus bill contain major benefits for post-secondary education students.
There are differences between the House and Senate bills. Both bills include a Pell Grant increase and an education tax credit that is partially refundable, for the first time. The House bill also includes a $2,000 increase in unsubsidized Stafford loan limits, but the Senate bill does not. This provision must be included in the final bill sent to the President.
The House and Senate leaders will be meeting THIS WEEK (informal conversations are already underway) to resolve the differences between the House and Senate bills, attempting to finalize the agreement in the next few days and send it to President Obama for his signature before February 14.
