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From Inside Higher Ed (1/26/09):

The Stimulus and Higher Education

House Senate
Aid for Students
Pell Grants $15.6 billion to increase maximum grant by $500 and eliminate shortfall $13.9 billion to increase maximum grant and close shortfall
College Work Study $490 million N/A
Loan Limits Increase limit on unsubsidized loans by $2,000 N/A
Higher Education Tax Credit Temporarily replace Hope tax credit with $2,500 credit available for four years of college. Credit phases out for individuals with income of $80,000, $160,000 for couples. Credit is 40 percent refundable. Cost: $12.5 billion over 10 years Temporarily replace Hope tax credit with $2,500 credit available for four years of college. Credit phases out for individuals with income of $80,000, $160,000 for couples. Credit is 30 percent refundable. Cost: $12.9 billion over 10 years
529 savings plans Allow computers to count as qualified expenses under 529 savings plans
Education Aid for States $39 billion for school districts and public colleges, distributed through existing formulas $39 billion for school districts and public colleges, distributed through existing formulas
$25 billion to states for “high priority” needs, “which may include education” $25 billion to states for “high priority” needs, “which may include education”
Infrastructure
College/School Facilities $6 billion for “higher education modernization, renovation, repair"; $1.5 billion for grants and loans to colleges, schools, and local governments for energy efficiency $3.5 billion to improve energy efficiency and technology infrastructure of higher education facilities
National Institute of Standards and Technology $300 million to construct research buildings at colleges N/A
Agricultural Research Service $209 million for facilities N/A
Scientific Research
National Science Foundation $2 billion for research grants, $900 million for equipment and facilities, and $100 million for science education $1.4 billion for grants and infrastructure
NASA $600 million for climate change and other research $1.5 billion
National Institutes of Health $1.5 billion for biomedical research, $2 billion for facilities renovation and capacity building $3.5 billion for biomedical research
Energy Department $2 billion for energy efficiency research; $2 billion for basic physical science research $40 billion over all, an undetermined portion for research
Pandemic research $900 million
Job Training $4 billion $3.4 billion
Other
Preparing health care workers $600 million for training primary care doctors, dentists and nurses N/A
Student Aid Administration $50 million to help Education Department administer student aid in changing student loan environment N/A
Help for Lenders $10 million for larger subsidies for lenders N/A
Arts $50 million for National Endowment for the Arts N/A

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