Economy Sends People To College For Better Jobs. Obama To Offer Tuition Aid

By Author: Sheila Danzig
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Unemployment rates are growing, and jobs are scarce. More and more people are turning back to traditional and online college degree programs to help them gain a more competitive edge in their search to maintain their family's income. Unfortunately, though, this just isn't possible for everyone.

What do you do if you've been out of a job for a couple of months, and you're already facing losing your home because you can't pay the rent or the mortgage? How are you going to afford getting a loan and going back to school? Banks are having enough difficulty lending to people with good credit, and people in these situations don't have the credit they may have previously held.

Neither traditional or online degree universities are anxious to offer student loans to people who don't have a steady income or are already facing bankruptcy because of credit issues. Furthermore, most people rarely keep the cash on hand to pay tuition for a university degree program. How are the tens of thousands of people who desperately need the benefit of a traditional or online Graduate Degree program ...
... going to be able to afford to go back to school?

President-Elect Barack Obama offers some hope for solving the educational crisis. His plan includes evaluating what areas of the nation's economy are most at risk to future job cutbacks. He then intends to offer tuition stipends to workers in these career positions, so that they can get further education or vocational training before these at risk jobs are lost.

Accredited online university degree programs offer threatened workers a perfect opportunity to return to school and earn a college degree at home without quitting their jobs or cutting back their hours. These students can continue earning an income and providing for their families by preparing for a potentially involuntary career change. Furthermore, they don't have to waste all of their time away from their family commuting back and forth from a traditional brick and mortar university.

Obama has also promoted the development of flexible education spending accounts for employees. People would be able to set aside a certain percentage of their regular paycheck for college tuition payments. The funds could then be used to promote the education of the employee.

These accounts will likely be very similar to the flexible spending accounts already in use by many employers for healthcare and childcare expenses. Most of these accounts are tax-exempt, so employees would be able to set aside education money without being taxed on this income. This tax break saves more money than merely allowing a tax deduction on a portion of the education costs.

The economic future is uncertain, but one thing is sure. Mr. Obama's presidential campaign promised major changes in education, taxes, and many other areas of the U.S. Economy. The next few months will be interesting, and change is sorely needed. Let's hope that the change to come will benefit us all!
About Author:
Author Sheila Danzig is internationally acclaimed education expert. She is currently on faculty at European-American University. For more information on accredited distance education programs, and the latest in educational policy in America, visit her website at www.thecollegedegrees.com. Visit Economy Sends People to Back-to-School for Better Jobs. Obama to Offer Tuition Aid.