May 22, 2012

You are here: Home / Archives for Education

Nebraska families encourage to save now for college later (AUDIO)

May 22, 2012 By

Treasurer Don Stenberg answers a question as David Cota with 1st National Bank looks on

State officials hope to encourage more Nebraskans to invest in their children’s future; or their grandchildren, nieces, nephews, even a friend to help them pay for college.

The state offers four college savings plans through the Nebraska Educational Savings Trust, but only about 12% of the Nebraska families eligible participate.

“I was very pleased to oversee the development of Nebraska’s College Savings Plan during my years as State Treasurer,” said Gov. Dave Heineman stated during a news conference at the Capitol office. “I am thrilled to see Nebraskans taking advantage of this opportunity. Education is a top priority for our state, and college savings plans are important to help students and families plan for the future.”

The governor has issued a proclamation declaring May 29th “529 College Savings Day” in Nebraska. That somewhat awkward tag stems from the United States Internal Revenue Code, Section 529, which offers both federal and state tax breaks to those investing toward a college education.

While saving for college has long been a priority for parents and grandparents and for the students themselves, never has saving for college been more critical,” Stenberg noted, stating that college tuition keeps rising each year.

More than 52,000 families in Nebraska and more than 180,000 nationwide are saving for their children’s higher education through NEST. Still, Stenberg says many more can participate.

The Nebraska Educational Savings Trust (NEST) is made up of four savings plans – the NEST Direct College Savings Plan, the NEST Advisor College Savings Plan, the TD Ameritrade 529 College Savings Plan, and the State Farm College Savings Plan. First National Bank of Omaha is the program manager, and the State Treasurer is the program trustee. All investments are approved by the Nebraska Investment Council.

Senior Managing Director of First National Bank, David Cota, says the assets in the four plans totals $2.7 billion. The NEST Direct plan is the most popular of the plans, with total assets of $1.2 billion. Another plan is offered that is FDIC insured up to $250,000. The average college savings account is $14,000.

State officials stated the plans are attractive, because they offer tax advantages and are professionally managed.

Click here for more information on 529 college savings plans.

AUDIO: Gov. Heineman hosts news conference, promoting college savings plans [10 min.]

Filed Under: Education, News Tagged With:

Ex-football coach, former Cornhusker, convicted on drug charges in Sidney

May 17, 2012 By

A former Sidney High School assistant football coach will be sentenced on two drug felonies in July.

Forty-two-year-old Robert Lance Lewis pleaded guilty to possession of more than a pound of marijuana and possession of hashish in court Wednesday according to the Cheyenne County Attorney’s Office.

Both charges are felonies and carry a maximum of five years in prison and a $10,000 fine each. Lewis will be sentenced on July 12.

Lewis was arrested after being stopped for a traffic violation in Sidney by the Nebraska State Patrol, which was monitoring his movements from Sidney to Kansas last November on a tip that he was transporting drugs, according to an arrest affidavit.

The document says troopers found packaged marijuana and a ball of hashish during a search of the vehicle.

Lewis was an assistant football coach at Sidney High School and a Nebraska Cornhusker football letterman in the late 80s and early 90s.

He was relieved of his Sidney coaching duties not long after his arrest.

By Dave Collins, KSID, Sidney

Filed Under: Big Red Report, Crime & Courts, Education, Featured Stories, Nebraska Football, News, Sports

Nelson, Johanns disagree on how to keep student loan rates down (AUDIO)

May 14, 2012 By

College students might well see their student loan rates double this summer as Congress fails to reach agreement on a plan to keep them steady.

Sen. Ben Nelson, a Democrat, criticizes Republicans for blocking debate on a Democratic plan to pay for the proposal to keep the interest rate on federal direct Stafford loans at 3.4%, rather than jumping to 6.8%.

“The bill would have kept student loan rates low and resulted in significantly less debt for millions of American college students and it would have been done so by closing a tax loophole,” Nelson says.

The United States Senate voted 52-45 on a plan proposed by Senate leader, Harry Reid of Nevada. The proposal needed 60 votes to move forward to floor debate. If Congress fails to act by July 1st, the interest rate on federal direct Stafford loans would jump from 3.4% to 6.8%. Approximately 7.4 million students would be affected, including more than 23,000 in Nebraska.

Reid proposed changing how certain corporate income would be considered, shifting it from profits to wages. Democrats say the proposal would close a loophole that has allowed corporations to avoid paying billions of dollars in owed taxes. Nelson says Republicans have supported closing the loophole in the past.

Sen. Mike Johanns, a Republican, says he’s not sure how Republicans have thought about the proposal in the past, but he opposes it. Johanns contends the proposal would divert the payroll tax from paying for Social Security and Medicare to subsidizing student loan rates.

“What you’re ending up with is a system where you’re trying to transfer that money to another use and I just don’t think that’s right,” Johanns remarks.

Republicans have suggested paying for the extension through doing away with a health care fund.

AUDIO: Brent Martin reports [:50]

Filed Under: Education, Featured Stories, Legislature & Government, News Tagged With: ,

Proposal to keep college student loan rates from doubling fails (AUDIO)

May 8, 2012 By

It seems both sides agree on the goal, but Republicans and Democrats in the United States Senate differ greatly on how to reach it.

A proposal to keep college student loan interest rates from doubling has failed in the Senate, as Republicans prevent it from getting the 60 votes needed.

Sen. Mike Johanns voted against the proposal. Johanns, a Republican, complained the solution proposed by Democrats will hurt the economy by increasing the Social Security and Medicare payroll tax on high-earning stock holders and privately owned corporations. Johanns, in a Senate floor speech, told colleagues no one truly believed the proposal would win approval.

“It’s time to look for practical solutions that can actually pass the Senate and help the American people,” Johanns stated. “Americans are getting sick and tired of election-year voting where we face legislation that we all know is designed to fail with the singular focus of generating good campaign talking points.”

Johanns said increasing the payroll tax would harm job creation, adding that job creation is more important than lowering the student loan interest rate.

“Young Americans would have greater prospects for the future in an economy that generated jobs and is growing income,” according to Johanns.

The interest rate on Stafford student loans will double, jumping from 3.4% to 6.8% if Congress doesn’t act by July 1st. Current Senate rules require 60 votes to advance debate.

Republicans have proposed paying for the proposal by doing away with a preventive health fund created in the 2010 health care overhaul.

“There’s been a lot of finger-pointing on this issue, but in reality everybody agrees interest rates on the Stafford loans should not double when the economy is struggling,” Johanns said. “The only disagreement is over how to pay for the relief.”

The issue has become an issue on the campaign trail. President Obama has harshly criticized Republicans for blocking efforts to keep the student loan rate from doubling.

AUDIO: Sen. Mike Johanns addresses the Senate during the student loan debate. [7 min.]

Filed Under: Education, Featured Stories, Legislature & Government, News

First president of Southeast Community College dies

May 7, 2012 By

Robert Eicher/Photo courtesy of Southeast Community College

The first president of Southeast Community College has died.

Robert Eicher was 85.

Eicher served as president from 1973 to 1992. Eicher served as an instructor of Nebraska State Trade School, Nebraska Vocational Technical School and Nebraska Technical College in Milford while serving as an assistant to Lowell Welsh, first full-time director of the state’s first postsecondary vocational school.

Eicher served as director of career education at Des Moines Area Community College for four years before returning to become president of Southeast Community College.

Southeast Community College has campuses in Lincoln, Beatrice and Milford.

Southeast has been named by the Aspen Institute College Excellence Program as one of the top 120 community colleges in the nation.

Filed Under: Education, News
« Older Posts