He will give you a $4,000 tax credit for 100 hours of community service.
What a guy. What a guy.
Unless you have a little more than half a brain.
Available to students currently are TWO tax credits.
HOPE Scholarship:
$1,500 HOPE Scholarship to make the first two years of college universally available. For students in the first two years of college (or other eligible post-secondary training), taxpayers will be eligible for a tax credit equal to 100% of the first $1,000 of tuition and fees and 50% of the second $1,000 (the amounts are indexed for inflation after 2001). The credit will be available on a per-student basis for net tuition and fees (less grant aid) paid for college enrollment after December 31, 1997.
Lifetime Learning Credit for College Juniors, Seniors, Graduate Students and working Americans pursuing lifelong learning to upgrade their skills. For those beyond the first two years of college, or taking classes part-time to improve or upgrade their job skills, the family will receive a 20% tax credit for first $5,000 of tuition and fees through 2002, and for the first 10,000 thereafter. The credit is available for net tuition and fees (less grant aid) paid for post-secondary enrollment after June 30, 1998. The credit is available on a per-taxpayer (family) basis, and is phased out at the same income levels as the HOPE Scholarship.
and finally
Student Loan Interest Deduction. Allows an above-the-line deduction (the taxpayer does not need to itemize in order to benefit) for interest paid in the first 60 months of repayment on private or government-backed loans, post-secondary education and training expenses. The maximum deduction is $1,000 in 1998, $1,500 in 1999, $2,000 in 2000, and $2,500 in 2001 and beyond. It is phased out for joint filers with incomes between $60,000 and $75,000, and to single filers with incomes between $40,000 and $55,000 (indexed after 2002). The deduction is available for loans made before or after enactment of this provision, but only to the extent that the loan is within the first 60 months of repayment. The loan amount eligible for the deduction is limited to post-secondary expenses for tuition, fees, books, equipment, room, and board.
all total, more than a $4,000 benefit, and would allow you to not have to figure a way to do 100 hours that may get in the way of your education, job, and or family. When a 24 year old finishes college and has a spouse and child, they need the job, and cannot work 100 hours in to benefit from a $4,000 credit.
Yet from the cheering masses of Obamessiah fans, you would think he just threw open the doors to the university. They were opened long before. he is just reinventing what has already been available, and then, will cancel a couple of the other options, making his the seemingly most viable long lasting option.
Earlier, he met one-on-one with dental hygiene student Marilyn Pace, who broke down in tears talking about how she is falling behind in school fee payments to pay for $4 a gallon gas to get to campus. Obama put his arm around her shoulders to comfort her and said, "You are going to make it. ... You'll be cleaning teeth in no time."
Obama is unqualified
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