Boswell Announces College Affordability Bill

Boswell Announces College Affordability Bill

—Today, at the Des Moines Area Community College, Congressman Leonard Boswell announced his sponsorship of legislation that will create a new tax credit for college tuition and expenses. Joined by Minority Leader Nancy Pelosi (D-CA), Boswell outlined H.R. 5982, the Universal College Credit Act, which he introduced in July, 2006.

"Education is the key that opens every door in life," said Boswell. "As our economy changes, it is now more important than ever that Americans have access to quality education. Many of the good paying, quality jobs being created in today's economy are more specialized and require some level of higher education."

Boswell's legislation will create a new non-refundable tax credit of up to $4,000 for qualified tuition and expenses for higher education at eligible educational institutions, whether it is a community, junior, or four year college or university. The credit can be claimed for up to four years for undergraduate studies and up to six years for graduate studies. Anyone who incurs the cost of higher education can claim the credit.

"Since the 2000-01 school year, tuition for a four-year public college in Iowa has increased over 50 percent," said Boswell. "When Iowans are looking at higher education as a way to better themselves both personally and professionally, cost should not be the deciding factor of the American Dream."

"With the leadership of Congresswoman Pelosi, we propose a New Direction for America, one that recognizes the rising cost of education, by increasing Pell Grants, reducing the interest rates on student loans, and creating the Universal College Credit," added Boswell.

http://boswell.house.gov/article.asp?id=539