From Marketwire

PHOENIX,AZ – By more than doubling the Department of Education’s budget over the next two years, the Obama administration’s economic stimulus package will make a reported 4 million more college students eligible for expanded tax benefits and significantly increase federal grant funding for an estimated 7 million students. These provisions of the bill, says NextStudent, will help students reduce their reliance on student loans to help pay for their college education.

Money for College

"This really marks a new era in federal education spending," said Edward Kealy, executive director of the Committee for Education Funding, the nation’s largest nonpartisan education coalition.

The federal Pell Grant program — the widely used grant program for financially needy students — will get a $17.1 billion increase in funding, while the federal work-study program will receive a $200 million boost.

new tax credit will temporarily raise the currently available maximum education tax credit by 40 percent, from $1,800 to $2,500. The approved stimulus bill also expands eligibility for the education tax credit by opening up the benefit to students from lower-income families who don’t currently pay taxes. The new tax credit will be refundable up to 40 percent for those families who don’t owe any taxes, and all eligible families will be able to write off non-tuition expenses like textbooks.

Under the current Hope Scholarship Tax Credit program, the education tax credit is nonrefundable, meaning only those families who owe taxes are able to benefit from the tax credit. The current Hope credit also covers only tuition and fees, leaving many low-income students with hefty room and board, transportation, and textbook costs that they can’t count towards the tax break.

The final version of the stimulus bill doesn’t include a measure proposed by the House of Representatives that would have temporarily increased federal subsidies to third-party lenders providing federal parent and student loans under the Federal Family Education Loan Program. Most FFELP lenders have suspended their federal student loan programs after Congress passed legislation in 2007 cutting over $21 billion in federal lender subsidies.

About NextStudent

NextStudent, www.nextstudent.com, offers a range of education finance products and services, including a free online scholarship search engine, links to a network of student loan providers, and extensive information on federally guaranteed parent and student loans, private student loans, and student loan consolidation programs.

With rising unemployment, and a shaky if not uncertain economic situation, whether or not you have a job can depend on your level of education achieved.  But, it you haven’t had the opportunity or taken the time to earn a college degree, or a more advanced degree if you already have an Associates or Bachelor degree, it may not be in your best interest to take a lengthy college degree program.  Time is of the essence.

There are some fast online degrees that may be earned in as little as 10 months.  This could be the perfect solution for working adults who are trying to get ahead, or just stay afloat.  Some of these online degree programs, such as those at American Sentinel University, offer credit for life and work experience.  While other online colleges and universities offer fast online degree completion programs for students who have taken some college courses in the past, but did not finish their degree.

American InterContinental University Online (AIU) offers an online accelerated degree program that may be completed in as little as 10 months – entirely online. 

Online degree programs are generally self-paced, can usually be started on any day of the year, and may be completed as fast as your schedule and motivation allow.  The University of Phoenix Online is another example of a great self-paced program that may be completed fast.

If you are motivated to earn a degree and get ahead in your chosen career, then consider a fast online degree program! 

Monday, January 26, 2009 is now known as "Bloody Monday".  The number of jobs lost on that day was devastating.  If you are among those who lost jobs on that day, or any day for that matter, keep your chin up and start planning for a better future now.  If you still have a job, but you fear there may be cuts, it is also a good time for you to plan, as well. 

OnlineCreditProfessor.com offers some very good advice on their blog.  So, what should you do when you no longer have a paycheck, and jobs are difficult to find?  In their post "No Paycheck, Now What?" they offer some very timely tips and advice to those who have lost jobs.  The first bit of advice is – don’t panic.  Sit down and take a look at your expenses and find areas where you can make cuts.  Another piece of advice is to consider using this economic downturn to your advantage.  If you can’t find a good job, it may be a great time for you to  to earn a degree online or take career training to learn a new vocation. 

Research has shown that people who hold bachelor degrees make more income over the course of their career than those with no college degree.  In addition, those with college degrees are less likely to be laid off than their peers with no degree.  So, it pays to earn a degree, and may even provide some job security. 

Many people don’t realize that you can obtain college scholarships, grants and student loans for accredited online degree programs, just like traditional on campus programs. In fact, there are grants and scholarships for single mom’s and working mothers, too.

The process is the same, you have to file the Federal Student Aid FAFSA form that most schools and scholarship granting entities use to determine need.  Although not all scholarships and grants are based on need, you should still file the FAFSA to find every dollar for which you qualify and are entitled.

One really great way to find all the financial aid programs for which you may qualify is to use a scholarship/grant matching service such as FastWeb.com. These matching services can help you find grants and scholarships all in one place, rather than having to research each school and each separate entity.  You probably qualify for more than you think, so get started now!

Heading Back to School? – Don’t forget to find scholarships for college at FastWeb.com

According to the US Census Bureau, persons holding a bachelor degree earn over the course of their working life $1 million more, on average, than a person who does not have a college degree.  Obviously, a college education pays off!  These days it is not so easy for working adults, single and working mothers, or those living in far flung rural areas to quit their job and attend a traditional on-campus classroom college setting.

There is an answer that has helped thousands of people earn a degree and get ahead in their career, or start a new career – accredited online college degrees.  Online college degree programs are flexible, self-paced, and may be completed fast.  They also tend to be more cost effective.

Accredited online bachelor degree programs are available in nearly every subject including business, psychology, nursing, paralegal studies, health care management, information technology management, and many more high demand areas.  Some programs are accelerated, allowing students to finish in as little as 10 months!  Typically, online degree courses are self-paced, so they may be completed as fast as your schedule allows, and then you may move on to the next level.  Most programs have rolling enrollment, so you may start at anytime, rather than having to wait for the next semester. 

This level of flexibility is what has helped make online degree programs extremely popular.  And, online degrees are widely accepted among employers due to the number of top accredited universities offering high quality distance learning degrees.

If you want to get ahead or find a better job and earn more income, an online degree program may be just what you need.  Get more information about programs at Classes24Seven.com, your one-stop for listings of all the best online colleges, universities, and degree options!

 Need money for college? Use FastWeb’s free scholarship search to find information on more than 600,000 scholarships!