American Recovery and Reinvestment Act
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Del.icio.usIn response to funding crisis at schools nationwide, the President is offering a stimulus package. Here is a quick overview of President Obama’s stimulus package, which is known as the American Recovery and Reinvestment Act.
- The stimulus package allots for $30.8 billion to colleges.
- The package also offers $17 million to the Pell Grant program increasing availability for low-income students.
- The stimulus package is expected to ‘off-set’ the education cost for low-income students and offer more grants and specialized programs.
- Under A.R.R.A., public and private colleges and universities will receive an estimated $21 million in additional federal work-study funds in 2009-2010.
Federal stimulus money should help some public colleges to better cope with the loss of state funding and to minimize any increases in tuition. All of these grants are evaluated by the Secretary of Education, and must be used to improve academic achievement.
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Editor: Melissa Steele is a freelance writer and focuses her research on funding for higher education. She is a graduate of UNLV and endeavors to keep her readers up to date with the most relevant education information.