President Obama’s 2015 budget calls for extending tuition tax credit and tax relief to student loan borrowers.

President Obama’s 2015 budget calls for extending tuition tax credit and tax relief to student loan borrowers.  The credit will provide an average benefit of $1,110 to 11.5 million families.  The benefit provides up to $2,500 in partially refundable tax credits for tuition.  Obama also proposes recipients of the Pell Grant tax credit rules be simplified  in calculations to see a reduction in their taxes or an increased tax credit.

House Republicans called for an American Opportunity Tax Credit in addition consolidating numerous higher education tax breaks.

Obama also seeks to make those exempt from taxation with student loan forgiveness.  This provides borrowers after they have made payments for at least a decade through income-based repayment programs.  Other income-based repayment programs forgive outstanding debt after 20 to 25 years.  I personally do not think that these proposels go far enough as people are strapped with student loans they cannot pay because of the current economic troubles in our country.

So please President Obama, help us help ourselves by making education affordable and by giving out of work university graduates a break on their loans, the only way forward...

Bearla International Studies

Elizabeth Koukladas Director