"Obama-nomics": College Edition

So I got an e-mail the other day from FastWeb, which normally provides information about scholarships and internships but sends out the occasional newsletter.  This edition was all about President-elect Barack Obama and how his presidency will affect our "Virgin Voters" (although hopefully there aren't too many of you left out there after this monumental election).  Here's a summary, since you have to have a subscription to access many of the articles.

Obama has been repeatedly likened to JFK for his charisma and charm, but in revamping the Fireside Chat, he now draws allusion to another abbreviated president-- FDR.  Have a look at his chat on education.

No matter what your political leanings, there's no denying that Obama is a definite favorite among the youth of America... and that's exactly to whom he is speaking!

Another huge issue for college students is financial aid.  So here's a brief overview of what Obama plans to do for all us starving college students:

"American Opportunity Tax Grant 

Under Obama's American Opportunity Tax Grant, all Americans will receive $4,000, fully refundable, for their college education. This amount actually covers 2/3 of a first year at a public university and one whole year in community college costs. But you don't just get $4K for going to college; there is a 100 hours community service requirement.

Simplify the FAFSA
Insert huge sigh of relief. Obama proposes to replace the complicated FAFSA from with a check box on all tax forms that authorizes the use of tax information for financial aid purposes.

Early Assessment Program Funds
Some states have developed Early Assessment Programs for juniors in college. Basically, these programs assess the individual junior and determine whether he/she is prepared for college. If not, the program provides resources to get that student up to speed. Obama hopes to encourage EAP and will provide $25 million in matching funds for states that develop the programs.

Increase in Pell Grants
During his term as president, Obama hopes to maximize the Pell Grant to the amount of $5,400.

Community College Partnership Program
Conduct more analysis on types of skills and technical education that are in high demand from students and local industries
Create new associate of arts degree programs
Reward institutions that graduate more students and also increase number of transfers to four-year institutions

Student Loans
Obama hopes to eliminate the Federal Family Education Loan Program, which has a focus in private student loans and is more expensive."

source: FastWeb Resources ("Change... In Higher Education" by Katherine Knight)

For more on Obama's plan, here's another great article from Education.com.

For more help on paying for college, head on over to FastWeb to set up your account and start taking advantage of all the amazing scholarship opportunities.