Paying for College

The American Opportunity Tax Credit

Tax credits are good, obviously, but I have to chuckle at this one. "The American Opportunity Tax Credit Act gives working families and students a $2,500 per year tax credit for students attending college." So says the The White House Blog. Don't get me wrong. I would enjoy a $2,500 tax credit just as much as anyone else, but why is the president making such sweeping statements about the effect of such a credit? He says that the Act will "help more people receive college degrees in the country." Maybe more accurately, it will help college students buy books for a semester or two, depending on their major.

I'm all for anything that can help cut down on the absurdly high cost of higher education, but why doesn't Congress investigate the huge increases in tuition and room and board at colleges across the land? I've noted the astronomical prices of colleges in past posts here, and no one in power seems to be concerned about looking into why the public is being forced to endure the hardships related to attending these schools. One look at the swamp of student loan debt should be enough to set off some serious alarms.

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