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Show klx1 tHortt-(3nbgpnite- E3-t- Sfr yy flWi dC JS ipiMTi8fiiiiy t)'y ' Wf jlf ftl ll mug ni ujjiii iipUpf i)Pilpiil Jji iy wm 'iWMryyri(ti"'mii. I m tm Mr rvfjm-v- Thursday, Oct 23, 1997 ttl, New scholarship designed to make CEU tuition more economical College officials expect federal tax relief act will boost enrollment The new HOPE Scholarship and other features included in the federal tax relief act of 1997 promise to make education at The College of Eastern Utah an even better bargain this spring than it has been in the past. College officials say the new incentives could also help boost enrollments among both younger and returning students. This is a great opportunity for those who qualify, said Bill Osborne, director of financial aide at the College of Eastern Utah. However, he voices concerns that it may cause more problems for the college and its students than it solves. Technically not a scholarship, but rather a tax credit, the Hope legislation allows eligible students pursuing the first two educayears of tion to receive a tax credit for 100 percent of the first $1,000 dollars of tuition and fees, and 50 percent of the second $1,000 on the federal income tax Students must be enrolled at least e (6 credit hours) in a certificate or other prodegree, to a recognized gram leading education credential. The measure takes effect Jan. 1, 1998, and applies to education provided in academic periods beginning after that date. The Clmton Administration has made the HOPES scholarship the centerpiece of its 1997 educationtax-cu- t package, vowto make the first two years ing of college the new standard for U S. students The tax credit is aimed at making a college education affordable to the majore citiity low- - and zens HOPE, however, does exemptions and limitations Individual filers who earn more than $50,000, and joint filers with adjusted gross income exceeding $100,000 do not qualify In addition, students who have been convicted of a felony for the possession or distribution of a controlled substance are meligble. And students who receive other forms of financial aid, such as a post-seconda- half-tim- allows working adults to exclude able for expenses paid after June 30, 1998 Exemption of employer-provideassistance Section 127 d of the IRS code annually from taxable income up to $5,250 in employer-provide- d educational assistance. The law is restricted to May 31, 1997, and applies only to undergraduate programs. Deduction of student loan interest The new law allows a deduc tion of up to $2,500 per year of interest on education loans for expenses of students enrolled in higher education. The maximum deduction is $1,000 dollars in 1998, increasing in $500 increments until it reaches $2,500. The deduction is allowed only for the first 60 months of interest payments, and has income level Lands administration auctions More than 2000 acres are sold The School and Institutional Trust Lands Administration held an auction on Oct. 3 which resulted in the sale of 12 parcels of trust land from varied locations around the state. A total of 2,160 acres were sold for southeast of Delta on U. S. 50. 40 acres northeast of Green 565 acres about six miles south of Snowville, Utah. Three parcels totaling about 600 acres were not sold because the auction did not result in bids which were equal to, or greater the than, Trust Lands For Moab area news , subscribe to an average of $383 $830,600 per acre. The properties sold include: lots near the Four top of Monroe Mountain in Fishlake National Forest; 40 acres about two miles south of Torrey, Utah, at the base of Boulder Mountain. 200 acres on the east boundary of Zion National Park. 250 acres just west of Koosharem Reservoir, one mile north of Burrville, Utah. 640 acres seven miles The Times 10-ac- middle-incom- Utah. River, Saving incentives Now individuals may make penalty-fre- e withdrawals from an IRA to pay for higher education. The measure also creates education IRAs for children under age 18. Annual contribution to these accounts is limited to 12 Administrations minimum acceptable prices. These parcels will be sold at a future auction. Revenue generated by land sales is put into the permanent funds of Utah schools and other beneficiaries. The permanent funds are not spent, but are invested by the State Treasurer to provide perpetual payments to the beneficiaries. The Trust Lands Administration will conduct another land parcels $500 per beneficiary. Exemption of scholarship and tuition remissions Section 117 of the IRS code excludes from taxable income amounts received as a qualified scholarship, as well as tuition remission support for relatives of employees of colleges and -- auction of approximately 3,200 acres on March 6, 1998. Call the Trust Lands Administration in Salt for more Lake City at information about the upcoming sale. The School and Institutional Trust Lands Administration is an independent state agency which manages 3.7 million acres of Utah trust lands exclusively for the benefit of Utahs schools and other public of -- flM tfeek m Service & Fair Value Quality Men W. Hupntobler, D.O.S. Merrill M. Hugentobler, Protect Your A Great Natural Resource New Patients Welcomed 120 S. Mam Moab 3MESMART -- FACTURED )MES AT LESS COST THAN RENTALS. HOMESMART MANUFACTURED HMES ARE TRULY" AFFORDABLE! Introducing our Skyline Homes 45 years of manufacturing integrity Commitment of excellence Only $24yr. out of area mortgage payment on loans funded and approved by the Bank of America Special order homes available for delivery and set up in four weeks! Talk to Greta at thelnformation Model at The Grand Oasis, call or Talk to Chuck at the Sales Office, FEATURED ON YOUR WHITE & GREEN PHONE BOOK COVER Do you have items or pictures you would like 3 months with no 35 E. Center 25 published? Bring them in by Tuesday Noon! TIMES-INDEPENDE- NT 259-645- 259-494- 35 E. CENTER v s I Pell Grant, will have the amount of their eligibility for HOPE reduced by the amount of aid they receive. In addition to the HOPE tax credit, a number of other Tax Relief Act features make college the best buy it has been in years. Tax credit beyond the first two years College juniors, seniors, graduate students, adults returning to college and students e attending less than dan. half-tim- are eligible for a new lifetime learning credit The credit is worth 20 percent of the first $5,000 of tuition and fees through 2002, and 20 percent of the first $10,000 after that The same income restrictions that apply to HOPE are in effect for this benefit. The credit is avail- - CD Vb Vr v ONE GREAT Shopping E EQUITY RATE DESERVES line? We've got for a great rate on a home equity two. An introductory rate of 5.95 ANOTHER for 6 months with a permanent long term rate of Prime Let me analyze 1.25. Perfect for those little projects, your insurance needs with a free or the ones that graduate into new ones. And there Family Insurance are no fees to open. To apply, simply stop by i Checkup. See Jim Englebright Agent 30 W. Center 259-516- Like any First Security branch, or call LendLlne neighbor, State Farm is there must be received by December Home Equity Rate for an 80 1 a good LTV was 9.75 1997 No fees to open As of August 25, 1997, the variable 12, APR Differing rates may apply for loans having higher ratios (In Wyoming, the maximum LTV cannot exceed is 18, 90) loarvto-valu- The APR is variable but the maximum APR regardless of the pnme After the first six months, the rate is based on the Wall Street Journal (WSJ) Pnme rate plus 1 25 for an 80 (LTV) The $60 annual fee is waived the first year. In State Farm Insurance Companies Hrwne ( ifff ev Utah and Qualified First Security Bank customers with an existing Home Equity Line of at least ons year are eligible for this promotion if of $20 0(?n they inrrpasp tbpir line a U ifi h K b f ihi Tni ftn ii fii jiyflfc-tb- i J We'll e Oregon, there is a $250 early termination fee if the line is closed within 24 months. Hazard insurance required. WINK at i Applications D.D.S. Compassionate, Quality Dental Care for the Entire Family 259-741- 8 Independent 801-259-75- restrictions similar to the HOPE tax credit. be happy to explain both of our rates to you. j |