Word: aid
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Dates: during 1970-1979
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Some observers fear that the benefits of a tax credit will be nullified if schools choose to raise their tuition because of the tax credit. Financial aid officers may take the extra $250 into consideration when making aid awards. If this were to happen, only students who did not receive financial aid would get the full benefit of the tax credit...
...Roth's aide said Roth has recently added a provision to the bill to prohibit financial aid officers from reducing awards because of the tax credit. He added that $250 was not enough to tempt schools to raise their tuition...
Although the student aid bill includes extra funds for lower income families, opponents of the bill say programs for lower-income students may eventually be hurt by increasing funding for middle income students. If the budget were to need tightening somewhere in the future, Congress would be more likely to authorize and across-the-board cut in funding for these programs rather than graduating the cuts according to income. Also, the open eligibility for loan subsidies would put low income students into competition with a larger group of people for the same money, and may make borrowing harder for those...
Harvard, of course, has an interest in which bill passes and is lending its voice, along with those of other expensive schools, to support the student aid bill. Gibson says the increased funding for the SEOG program and the Guaranteed Student Loans are particularly helpful for students in such schools. The BEOG has a maximum grant and is not affected by the cost of the school the student attends, but the SEOG money goes directly to the schools to allocate as part of their financial aid program and is therefore sensitive to the costs of each school. Most students...
...sides in the race are jockeying for position in preparation for the final decision, which must come soon if these programs are to be implemented on schedule. The tax credits would start on August 1, 1978 and much of the increased funding of the student aid bill would be available for the start of the next academic year with the following in the next year...