Education is an issue that affects all of us
Editorial Board
Issue date: 10/31/08 Section: Ed-Op
Are you registered to vote? You have probably heard these five words hundreds or thousands of times during the course of the past few months, and with the election right around the corner this question has been even more prevalent. But let's ask a more important question - do you know what you're voting for?
While each voter has his or her own hierarchy of issues in this election, The Triangle's Editorial Board would like to focus in on one issue that affects all of our readers - education.
Whether you are a student or a parent, a member of academia or University administration, the issue of education, especially during this economic downturn, hits close to home.
One of the biggest education concerns recently has been financial aid and college savings (or rather, a lack thereof).
Many parents invested years ago in Pennsylvania's 529 college savings plan, also known as nowU, to help finance their children's education. According to The Philadelphia Inquirer, the 529 plan is split in two parts - an investment program and a guaranteed savings plan through which families can purchase college credits in advance.
"Combined, the funds had $1.4 billion on Oct. 17, $1 billion in the guaranteed savings plan and $450 million in the investment plan. From June 30 through Sept. 30 of this year, guaranteed-savings-plan assets declined 7.1 percent, and investment-plan assets dropped 3.6 percent," the Inquirer reported Oct. 27.
In addition to the negative impact 529 plans have been seeing due to the economy, the credit crunch has also hindered many students and parents trying to apply for loans.
In fact, Reuters reported Oct. 30, "A survey of 2,500 prospective students by MeritAid.com found 57 percent were now considering less-expensive colleges due to the economic downturn."
Democratic candidate Barack Obama's platform calls for creating the American Opportunity Tax Credit that, according to his campaign's web site, "Will make college affordable for all Americans. … This universal and fully refundable credit will ensure that the first $4,000 of a college education is completely free for most Americans, and will cover two-thirds the cost of tuition at the average public college or university and make community college tuition completely free for most students. Recipients of the credit will be required to conduct 100 hours of community service."
While each voter has his or her own hierarchy of issues in this election, The Triangle's Editorial Board would like to focus in on one issue that affects all of our readers - education.
Whether you are a student or a parent, a member of academia or University administration, the issue of education, especially during this economic downturn, hits close to home.
One of the biggest education concerns recently has been financial aid and college savings (or rather, a lack thereof).
Many parents invested years ago in Pennsylvania's 529 college savings plan, also known as nowU, to help finance their children's education. According to The Philadelphia Inquirer, the 529 plan is split in two parts - an investment program and a guaranteed savings plan through which families can purchase college credits in advance.
"Combined, the funds had $1.4 billion on Oct. 17, $1 billion in the guaranteed savings plan and $450 million in the investment plan. From June 30 through Sept. 30 of this year, guaranteed-savings-plan assets declined 7.1 percent, and investment-plan assets dropped 3.6 percent," the Inquirer reported Oct. 27.
In addition to the negative impact 529 plans have been seeing due to the economy, the credit crunch has also hindered many students and parents trying to apply for loans.
In fact, Reuters reported Oct. 30, "A survey of 2,500 prospective students by MeritAid.com found 57 percent were now considering less-expensive colleges due to the economic downturn."
Democratic candidate Barack Obama's platform calls for creating the American Opportunity Tax Credit that, according to his campaign's web site, "Will make college affordable for all Americans. … This universal and fully refundable credit will ensure that the first $4,000 of a college education is completely free for most Americans, and will cover two-thirds the cost of tuition at the average public college or university and make community college tuition completely free for most students. Recipients of the credit will be required to conduct 100 hours of community service."
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