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With U.S. student loan debt now topping $2 trillion, any financial support is a boon for students. ... the average cost of college is over $38,000 per student per year. As college continues to ...
In 2023–24, the weighted average list price for annual tuition in the United States ranged from an average of $11,260 for in-state students at public four-year institutions to $41,540 for private four-year institutions. [7] Due to the high price of college tuition, about 43 percent of students reject their first choice of schools. [8]
If you take out student loans to pay for college, you might qualify for the student loan interest deduction. This deduction allows you to reduce your taxable income by up to $2,500 per year.
There is a misconception that there was no similar increase in financial aid to help cover the costs of tuition. This is incorrect. In 1965, $558 million was available for financial aid. In 2005 more than $129 billion was available. As college costs have risen, so has the amount of money available to finance a college education.
A US Department of Education longitudinal survey of 15,000 high school students in 2002 and 2012, found that 84% of the 27-year-old students had some college education, but only 34% achieved a bachelor's degree or higher; 79% owe some money for college and 55% owe more than $10,000; college dropouts were three times more likely to be unemployed ...
President-Elect has pledged to close down the U.S. Department of Education and redirect most of its responsibilities to the states in his second term. Founded in 1980, the federal agency oversees ...
The Higher Education Act was passed to give greater college access to women and minorities. [5] President Bill Clinton set a phase-in of direct lending, by signing into law the Omnibus Budget Reconciliation Act of 1993, [6] although in 1994 the 104th Congress passed legislation to prevent the switch to 100% direct lending. [6]
The Senate has passed the $1.9 trillion stimulus package, which is making its way through Congress. Here are the key takeaways for college students and graduates.