Breaking the Small Business Code

The Brick Walls Keeping Education from Improving

    US News & World Report's Education Blog has a GREAT blog article on how the eduation "community" received President Obama's proposals for improving education. The differing opinions on what he said and what needs to be done is sadly another example of why it will be so difficult to improve education in America.

    To refresh your recollection, President Obama said he wants the United States to have the highest proportion of college graduates in the world by 2020 and asked every American to complete a year or more of college or career training. He talked about the need for more reform in education and said he wants to reward teacher performance and grow the number of charter schools. He also talked about providing ore financial support from pre-school through college.

    Sadly, as usual, the "education community" was NOT pulling together. As usual the entrenched interests looked at their position and as the comments of the various "experts" show - they are all going in different directions.

    I am becoming so frustrated that I voiced my opinion in the comments section!  To read the article AND my comments, go to the On Education Blog Comment Section.  Then add your own comments there or here!

New Stimulus Bill 's Housing Related Benefits & College

     We don't know all the details yet but the recently passed Stimulus Package looks to have three potential benefits for families thinking about buying or refinancing a home. I wanted to share how these items can have possible benefits for college planning:

• In 2008, the conforming loan limits were increased to $729,750.  The American Recovery and Reinvestment Act of 2009 (ARRA 09) reinstates the $729,750 conforming loan limits until December 31, 2009.  This means lower interest rates for loans up to this amount. Higher rates come with "jumbo loans" that exceed this amount.  If your home still has equity, this could be a good thing to take advantage of lower interest rates for college planning!

• The 2009 bill will offer first-time home buyers a tax credit in the amount of $8,000 providing you purchase a home between January 1, 2009 to December 31, 2009.  The credit does NOT have to be paid back to the government unless the buyers sell their home within 3 years after the date of close of escrow on the home.  If you have the means, this could be a great time to help your student(s) buy their first home in lieu of a dorm. 

• The American Recovery and Reinvestment Act of 2009 offers incentives to existing home owners for going Green.  A tax credit of up to $1500 is given to home owners who make some “Green” home improvements.  These Green home improvements include, but not limited to, energy efficient windows, doors, and furnaces.  So doing something to save energy costs could help reduce taxes both of which can improve tax flow for college.

     As I learn more about ARRA 09, my team and I will look for ways to help college-bound families use the benefits to help pay for college!