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The newly passed stimulus bill will mean a lot to the average American. When it comes to college the stimulus bill will equal more money for financial aid for more students.

Here’s the skinny on the higher education portion ($32 billion) of the $790 billion stimulus bill:

The maximum amount a student reieves right now with Pell Grant is $4,731. The stimulus added a measure where on July 1, it will increase to $5,350 and then again to $5,550 for the 2010-2011 school year.

An extra 800,000 students will be eligible for Pell Grant.

There is an increase in the tuition tax credit. The stimulus increases it to $2,500.

Computer expenses will now be included as an allowable expense in 529 college savings plans.

The bill also includes $15 billion for scientific research, which will mostly go to universities.

Jeremy

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