Enacting the Largest Expansion of College Opportunity Since the GI Bill
Opening the Doors of College to All Americans
- President Clinton and Vice President Gore proposed and passed the $1,500 HOPE Scholarship credits, making the first two years of college universally available for six million students.
- Proposed and passed the Lifetime Learning Tax Credit, a 20 percent credit will help more than seven million students offset tuition costs for college or lifetime learning.
- The new expanded Education IRA allows penalty and tax-free withdrawals for education.
[source: Education Department, 4/2/99, FY 2000 Budget, p. 69]
Expanding Work Study and Pell Grants
- This year, one million students will be able to work their way through college because of the President's expansion of the Work Study Program.
- In 2000, nearly four million students will receive a Pell Grant of up to $3,300, the largest maximum award ever. The maximum award has increased 43 percent under the Clinton-Gore Administration.
[source: Education Department, Office of Student Financial Assistance]
Making College More Affordable
- Cut student fees and interest rates on all loans, expanded repayment options including income contingent repayment, and improved service through the Direct Loan Program.
- Students have saved nearly $8.7 billion since 1993 through the reduction in loan fees and interest rates.
[source: Department of Education, Statement by Secretary Riley, 10/5/99]
Establishing the GEAR-UP Mentoring Program to Prepare Students for College