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Bill makes college costs fully deductible

September 15th, 1999

WASHINGTON, DC — Calling on Congress to help make college affordable to millions of Americans while simultaneously increasing the choices available, US Rep. Ron Paul (R, Texas) has cosponsored the “Make College Affordable Act of 1999,” HR2750. Rep. Harold Ford (D, Tenn.) authored the bill.

The measure allows single filers who make incomes up to $55,000 a year, and joint filers with incomes up to $85,000 a year, to write-off the full amount of a college education, including tuition, fees and room and board for themselves and their dependents.

“Working families are struggling to pay college tuition bills, and for good reason: the cost of attending college continues to skyrocket,” said Rep. Paul.

Every year, public concern about rising tuition costs increases as the cost of post-secondary education rises and families find themselves in the challenging position of trying to fund their child’s education. According to the National Commission on the Cost of Higher Education, between 1976 and 1996, the average tuition at public universities increased from $642 to $3,151. During the same period, the average tuition at private universities increased from $2,881 to $15,581 and for public two-year institutions, tuition increased from $245 to $1,245.

“Careful planning, saving and investments by families can facilitate the process of funding a student’s college education,” said Rep. Paul. “What do families do when savings are not enough and college tuition continues to skyrocket? The Make College Affordable Act will increase accessibility to higher education and help working families deal with the sticker shock when writing tuition checks every semester.”

Both Rep. Paul and Rep. Ford are members of the House Committee on Education and the Workforce.

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Source: http://www.house.gov/paul/press/press99/pr091599.htm

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