Summary: H.R.5661 — 107th Congress (2001-2002)All Information (Except Text)

There is one summary for H.R.5661. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (10/16/2002)

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).