Boswell, Biden Meet with Students at Drake University
Boswell, Biden Meet with Students at Drake University
Today, at Drake University, Congressman Leonard Boswell and Senator Joe Biden (D-DE) affirmed their commitment to making college more affordable. Speaking to a group of students, Boswell discussed his legislation, the Universal College Credit Act, which will create a new tax credit for college tuition and expenses.
"As our economy is changing, and as the world at large is changing, it is now more important than ever that Americans have access to quality education," said Boswell. Many of the good paying, quality jobs being created in today's economy are more specialized and require some level of higher education."
The continually rising cost of higher education is erecting barriers for many. In Iowa, since the 2000-2001 school year, the cost of attending a public four-year college has risen roughly 52% and the cost of attending a private four-year college has rise roughly 18%. Just over 70% of our students rely on student loans, carrying an average debt of just over $22,000 each once they graduate.
"When individuals look at higher education as a way to better themselves both personally and professionally, cost should not be the deciding factor of the American Dream," said Boswell. "I, with many of my colleagues in the House, propose a New Direction for America, one that recognizes the rising costs of education, by increasing Pell Grants, and reducing the interest rates on student loans."
The Universal College Credit Act seeks to implement 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. This credit can be claimed for up to four years for undergraduate studies and up to six years for graduate studies. The student, his spouse, or his parents, can claim the credit.
Boswell added, "Every student has different aspirations. Whether they wish to go to community college, a university, or if they want to be a doctor, lawyer, or obtain a Ph.D., I believe we should foster an environment where the cost of higher education is not the impediment to reaching your goals."
"Rather than allow rising costs to close doors in life, we must work together to increase and expand opportunity to make the American Dream a reality for all our citizens."
http://boswell.house.gov/article.asp?id=549