Obama Administration: Student Loan Reform and Helping Moms Return to School
The Obama administration is working to make college more affordable. Here is a list of the current reform items in play:
- Putting a halt to subsidies to special-interest private lending companies
- Increasing funding for Pell Grants to allow more students to afford a college education
- Capping a recent grad’s annual student loan repayments at 10 percent of the student’s income
- Aiding an extra 5 million Americans earn degrees over the next ten years, by revamping curriculums at US community colleges
In addition to the student loan reforms, the Obama administration has created incentives for moms to return to school by increasing the Federal Pell Grants. These grants have been increased to $5100 instead of $4050 to help low income students and mothers return to school. In addition, there are tax benefits for studying moms. The American Opportunity Tax Credit program states that the first $4000 of your college education is free. Finally, Obama’s ‘Moms Return to School’ Government Grant Scholarship program can help moms with earning online degrees.
