Obama's Plan for Higher Education in the Stimulus Package

So what exactly does President Obama have in mind in terms of using stimulus package funds for higher education? Information about Obama’s higher education plan — and everything else in Obama’s proposed American Reinvestment and Recovery Plan — is available on the newly revamped White House website.
In a nutshell, here’s what Obama wants to do for higher education.

1. Increase the minimum Pell Grant by $500.
2. Create a $2500 partially refundable higher education tax cut for close to 4 million students, which will affect about one-fifth of high school seniors who currently receive no tax break under the current system.
3. Triple the number of fellowships for graduate and undergraduate students in science.
4. Prevent layoffs and educational cuts throughout the country.

Will this happen? If so, will this work? Stay tuned!