Palumbo: Make College Affordable For Everyone
Assemblyman Anthony Palumbo (R,C,I,Ref-New Suffolk) joined Assembly Minority Leader Brian M. Kolb (R,C,I,Ref-Canandaigua) to present the Conference’s “Affordable College for All Initiative” at a press conference held today. “The Affordable College for all Initiative” modernizes the Tuition Assistance Program (TAP) and assists students currently paying off student loans.
“The Affordable College for All Initiative” is a great plan that tackles the problems students and their families face when pursuing their academic goals,” said Palumbo. “Our plan makes it much easier for those who are attempting to receive a higher education, and also lays out a plan to assist those who are now paying back their loans.”
The “Affordable College for All Initiative” provides across-the-board assistance to students planning to attend, who are attending, or who have attended college and are now paying off student loans. The initiative includes but is not limited to:
- Increasing the household threshold for TAP from $80,000 to $125,000.
- Increasing maximum TAP awards from $5,165 to $6,470.
- Increasing TAP awards by $500 for every student.
- Making TAP available for graduate students.
- Providing an income tax deduction for both interest and principal amounts of student loans.
“This is a great alternative to the governor’s proposed free-tuition plan,” said Palumbo.
Instead of ignoring the problem, we have laid out a plan that provides assistance to those who have graduated and are now attempting to pay back their student loans by providing tax deductions. Also, by expanding TAP we are not limiting assistance to those who are attending public institutions, but also those who are attending private colleges.”