- Several new bills would seek reforms in the way the U.S. tax code affects those paying for higher education. Included on that list is Kerry’s plan to replace the HOPE and Lifelong Learning tax credits with a new education opportunity credit with benefits up to $2,500 per year. Unlike the current tax credits, the new plan would better target aid to low-income families, Kerry said.
- The Senate will get a chance to consider student loan interest rate cuts under a bill introduced by Sen. Richard Durbin, D-Ill. The bill would cut many subsidized loan interest rates by half over a five-year period. The House already has passed this legislation as part of that chamber’s “first 100 hours” agenda to help working-class Americans.
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