On Monday, October 22nd, Rep. John Barrow (GA-12) joined students and university officials at Armstrong Atlantic State University to discuss his new “Hope Tax Credit Expansion” legislation, which provides relief from the rising cost of higher education. Prior to the press conference, Barrow met with Armstrong President Thomas Z. Jones.
Barrow’s legislation increases the Hope Tax Credit to $3,000, allows taxpayers to use the credit for all four years of post-secondary education, and expands the credit to cover room and board, books, supplies, and equipment. The maximum credit has not increased to reflect the rising cost of tuition since it was introduced in 1997. Barrow also discussed The College Cost Reduction and Access Act which saves college students an average of $4,400 on student loan interest, increases Pell Grant amounts, and forgives loans for those who provide 10 years of public service. The bill increases financial aid by $859,007,000 for college students in Georgia, and was signed by President Bush into law in late September.