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Government Regulations

Over the last two years, tax-exempt colleges and universities have become targets of increased scrutiny by the Secretary of Education, the Internal Revenue Service ("IRS") and the Senate Finance Committee. With the looming budget crisis and an ever-increasing deficit, regulators are taking a hard look at whether these institutions are providing the public benefits commensurate with the tax breaks they receive as a result of their tax-exempt status.

 

With the inauguration of Sen. Barack Obama as President in January and an increase in the Democratic majority in Congress, the higher education community probably can look forward to unified positions on policy issues ranging from student aid to the role community colleges and other institutions play in building the country’s workforce.

 
 
 

AT LAST--AFTER SIX YEARS, three Congresses, and 14 extensions of the existing law, the House and Senate finally agreed to legislation reauthorizing the Higher Education Act, and in August President George W. Bush signed it.

 

BILLIONS OF DOLLARS IN new veteran education benefits will be available next year. The challenge is getting veterans to take advantage of all the benefits available to them.

 

Is there a crisis looming in the student loan industry? Are we in the midst of one already? Depending on what you read, the answer is both "yes" and "no."

 

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