Monday, March 23, 2009

For college students, Obama offers a long-awaited boost for financial aid

Written by: Lisa M. Krieger
Posted by: Keun H. Maeng

At a time of economic hardship, college students have gotten an unexpected surprise: more federal money.

President Barack Obama's economic stimulus package dramatically ramps up spending for higher education by boosting financial aid, expanding work-study programs and creating a new tuition tax credit. Obama is promising much more in his newly released federal budget. Together the two financial plans signal a major investment in higher education at a time when many students are struggling to make ends meet.

While new support would help thousands of students at the University of California and California State University systems, those likely to feel the biggest impact are community college students, who tend to be low-income and self-supporting — and in a poor economy, face the highest odds against completion.

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