Spring Break
Stimulus may aid Univ
by Miranda Neubauer
Senior Writer
News | 3/3/09
Posted online at 5:49 AM EST on 3/3/09
The $787 billion stimulus package that the U.S. Congress passed Feb. 13 includes federal funds that could benefit Brandeis in the areas of financial aid and scientific research, according to Provost Mary Krauss and Dean of Financial Services Peter Giumette.
The stimulus bill, which is intended to create jobs and induce a widespread economic recovery, includes $29 billion toward health, science and research, of which $10 billion goes to the National Institutes of Health for research and facilities. The bill also provides $106 billion for education and job training, which includes extra funding for programs such as Pell Grants, which go to students with high financial need and higher education tax credits that provide tax relief for families to pay education costs.
The stimulus legislation increases the maximum Pell Grant from $4,850 to $5,350. Giumette explained that Pell Grants are limited to students of high need and are received by about 15 percent of undergraduates. "Not only did they increase the annual amount [of Pell Grants], they also increased the number of awards one student could receive in a single academic year, ... so that's helpful for students who might be considering summer sessions at Brandeis." He explained that this change would not have a large effect on the plans for a Justice Brandeis Semester because it is only one source of federal funding. Other kinds of financial aid such as the Stafford Loan still have an annual maximum that most students use up in the spring or fall.
In past years, Pell Grants have not kept pace with the increased cost of education, representing an ever-smaller portion of the overall cost in the past several years, Giumette said.
The tax credits would help families pay for college costs because they allow them to save money in federal taxes, Giumette explained. "It's fairly minor compared to the overall cost. … I'd rather have had the money allocated to federal aid programs than given as a tax credit."
The stimulus bill, which is intended to create jobs and induce a widespread economic recovery, includes $29 billion toward health, science and research, of which $10 billion goes to the National Institutes of Health for research and facilities. The bill also provides $106 billion for education and job training, which includes extra funding for programs such as Pell Grants, which go to students with high financial need and higher education tax credits that provide tax relief for families to pay education costs.
The stimulus legislation increases the maximum Pell Grant from $4,850 to $5,350. Giumette explained that Pell Grants are limited to students of high need and are received by about 15 percent of undergraduates. "Not only did they increase the annual amount [of Pell Grants], they also increased the number of awards one student could receive in a single academic year, ... so that's helpful for students who might be considering summer sessions at Brandeis." He explained that this change would not have a large effect on the plans for a Justice Brandeis Semester because it is only one source of federal funding. Other kinds of financial aid such as the Stafford Loan still have an annual maximum that most students use up in the spring or fall.
In past years, Pell Grants have not kept pace with the increased cost of education, representing an ever-smaller portion of the overall cost in the past several years, Giumette said.
The tax credits would help families pay for college costs because they allow them to save money in federal taxes, Giumette explained. "It's fairly minor compared to the overall cost. … I'd rather have had the money allocated to federal aid programs than given as a tax credit."
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