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Senator Chuck Grassley to Be Recognized for His Support of Private College Students and Their Families

February 3, 2004

Grassley Receives 2004 NAICU Award for
Advocacy of Independent Higher Education

WASHINGTON, D.C., Feb. 3—Sen. Chuck Grassley (R-Iowa) has been selected by the National Association of Independent Colleges and Universities (NAICU) to receive its 2004 Award for Advocacy of Independent Higher Education. The award will be presented at 8:30 a.m. on Tuesday, February 3, at the NAICU annual meeting. The meeting will be held at the Hyatt Regency Washington on Capitol Hill.

The NAICU Advocacy Award was established in 1993 to recognize individuals outside academe who have championed the cause of independent nonprofit higher education. Whether in government, business, or philanthropy, the recipient of this award has provided leadership, established resources, or enacted policy at the national or state level to significantly assist private colleges and universities in serving their students and communities.

As ranking member and current chairman of the Senate Finance Committee, Grassley has focused the committee’s agenda on college savings incentives for families. Because of his leadership, students and working families have more options than ever for saving and paying for college.

• Families of students at private colleges and universities will benefit from the equal federal tax treatment for private prepaid tuition plans; their withdrawals from all 529 plans are tax-free.
• College students will be helped by the permanent extension of Section 127, which allows tax benefits for employer-provided education assistance to students enrolled in undergraduate or graduate course work.
• Millions of students will benefit from the increase from $500 to $2,000 in the annual contribution limit to Education Savings Accounts, the elimination of the 60-month limit on claiming the student loan interest deduction, and the increase in the income caps, allowing more students to claim the deduction.

Grassley has also led the Senate’s efforts on charitable giving initiatives that would bolster the long-term financial health of colleges and universities by providing significant tax incentives to encourage private giving. The IRA charitable rollover, which would allow alumni gifts from various retirement accounts without current tax penalties, has passed both the House and the Senate and needs to move to the final conference phase. Grassley continues to be instrumental in seeing this important bill through to completion.

“Chuck Grassley has been a champion for higher education throughout his three decades of service in Congress. His dogged determination has helped make college more affordable for all Americans,” said NAICU President David L. Warren. “For his unwavering support of working families by providing federal support to help fund college education for their children, we are pleased to present the 2004 Award for Advocacy of Independent Higher Education to Senator Chuck Grassley.”

Grassley, who will receive the award from NAICU President David L. Warren, will be joined by several Iowa independent higher education leaders, representing AIB College of Business, Briar Cliff University, Buena Vista University, Central College, Clarke College, Dordt College, Graceland University, the Iowa Association of Independent Colleges and Universities, Iowa Wesleyan College, Mercy College of Health Sciences, Morningside College, St. Ambrose University, Simpson College, and Wartburg College.

Contact

• Tony Pals
  (202) 785-8866
  tony@naicu.edu