College Tuition Assistance Act of 2002

Bill Number

HR 5661

Introduced

Oct 16, 2002

Latest Action

Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a peri ...

Sponsor

Cosponsors

Topics

College costs Cost of living adjustments Economics and Public Finance Education Federal aid to higher education Finance and Financial Sector Higher education Income tax Indexing (Economic policy) Interest Personal income tax Scholarships Student loan funds Tax credits Tax deductions Taxation

Full Text

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Votes

Summary

College Tuition Assistance Act of 2002 - Amends the Internal Revenue Code to increase the applicable dollar amount for the qualified tuition and related expenses deduction from $3,000 (for 2002 and 2003) and $4,000 (for 2004 and 2005) to $10,000.

Increases the Lifetime Learning Credit percentage from 20 to 28 percent.

Permits the student loan interest deduction on a per student basis.

Amends the Higher Education Act of 1965 to extend and increase Pell grant maximum amounts ($6,500 for academic year 2003-2004 and $7,000 for academic year 2004-2005).

Actions

Oct 16, 2002

Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Oct 16, 2002

Introduced in House

Amendments

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