As a part time professor I make just enough money teaching to pay my bills during the school year. At one point I was teaching 6 classes at 5 schools and working 30-40 hours a week at a retail store just to make ends meet. At 30, when my peers are purchasing their first homes, building families and going on vacations, I am struggling to make ends meet each month.
I jumped on the chance to go back to school when I found out my employer offers to cover some college credits each semester. What I didn't know was that most of my education expenses are covered only if I go to school part time. Being highly motivated to finish this degree in two years so that I can start making enough money to have a savings and stop worrying about how to pay each bill, I wanted to go to school full time. This means that I will have to take out student loans to foot the bill (on top of the $50,000 I already have from undergrad and grad school, the first time around).
This tax credit is a huge help to me and I imagine millions of others. It is about time we make college affordable for everyone and the tax credit aids in this venture. Losing this credit will put me further in the hole in terms of student debt, which will take longer to pay off and, in the long run, cause more grief and worry. When people are trying to better themselves by going back to school taking away the tax credit is a slap in the face.
