The Health Care and Education Reconciliation Act of 2010 helps American families that choose public service. It does several things to make college easier for American families;
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It invests more than forty (40) billion dollars in college and going forward it will be adjusted to keep pace with inflation or cost of living
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By 2017, the maximum PELL Awards may be raised to six thousand dollars ($6,000). These are grants and not loans, so they don’t add up to student debt for qualifying families
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To qualify for student grants and low-interest student loans, fill out the FAFSA forms
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You may also qualify for up to a $10,000 credit for four years of tuition and related expenses … for your child’s tuition including books. This is called The American Opportunity Tax Credit. It triples the amount you can deduct from your taxes for college.
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Beginning in 2014, students can limit their payments to 10% of their income with any remaining balance forgiven after 20 years.
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Graduates who work as teachers, nurses or other public service professions including the military can have their loans forgiven after ten (10) years.