Improving Access to Higher Education Act of 2007

Summary

Improving Access to Higher Education Act of 2007 - Amends the Higher Education Act of 1965 to increase the maximum Pell Grant award to $5,100 for the 2007-2008 academic year. Raises the minimum Pell Grant award from $400 to $500. Amends the Internal Revenue Code to raise: (1) the maximum student loan interest deduction to $3,750; and (2) the modified adjusted gross income level where such deduction begins to be phased-out. Exempts from the sunset provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA): (1) the elimination of the 60-month limit on the period of such deduction; and (2) the increase in the income limitation on such deduction. Increases the maximum annual contribution limit for Coverdell education savings accounts from $2,000 to $3,000, and makes such increase permanent. Repeals the EGTRRA sunset on the tax exclusion of employer-provided educational assistance.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 31 January 2007

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 31 January 2007

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• Introduced in Senate

  summary · EN · 31 January 2007

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