Mobility upwards through socioeconomic classes is not as simple was holding down a good job for a lifetime, it requires education, ingenuity, and the ability to break generational economic cycles that keep families from achieving financial independence over the long-term.
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This challenge has presented us with a once in a lifetime opportunity to help reshape education in America by recruiting and training the next generation of great American teachers.
If education vouchers reduce the lifetime expected welfare that the individual will qualify to receive than this can easily outweigh the added utility the individual receives from expanded choice.
Today we can say something we could not say six years ago: with more affordable student loans, more Pell grants and work-study jobs, education IRAs, a lifetime learning tax credit for junior and senior year of college, and the new HOPE scholarship tax cut that more than 5 million Americans will receive this year, we have opened the doors of college to all.
And we have found that tertiary education lowers, not raises, lifetime earnings for some.
National economic and labor force data consistently affirms that those with a college education earn more than those without it, and that the more higher education attained, means even more lifetime earnings.
Clinton will speak of his initiatives to promote childhood education as well as new programs "over a lifetime" for adults.
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The information age is first and foremost and information age in which education will start at birth and continue throughout a lifetime.
And the definition differs yet again for education benefits: the American Opportunity Tax Credit, Lifetime Learning Credits, and the tuition and fees deduction.
These numbers are driven by conventional wisdom that views higher education as a surefire ticket to a successful career and greater lifetime earnings.
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For one, many young adults and students need to think about paying for the biggest expenses of their lifetime, such as a new car, home or post-secondary education.
On Sunday, February 10, the IRS will accept tax returns which include federal form 4562, Depreciation and Amortization, and on Thursday, February 14, the IRS will accept tax returns which include federal form 8863, Education Credits (for taxpayers claiming the American Opportunity Tax Credit and the Lifetime Learning Credit).
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But two months previously, a senior civil servant told education experts "the scale of the commitment does not allow it to be delivered in the lifetime of a parliament", the Labour leader went on.
Yet the reasoning behind the current bankruptcy provisions is logical enough: education is an asset that cannot be repossessed and that keeps on benefiting the individual through his or her lifetime.
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