Certification of high school graduation, and Official College Transcript s if transferring credit hours Once you have been admitted to MTECH and the Financial Aid Office receives the required items listed above, your file will be reviewed for eligibility for financial assistance. MTECH will begin notification of eligibility to enrolled students in mid-March by mailing a preliminary award estimate letter.
Production subsidy[ edit ] A production subsidy encourages suppliers to increase the output of a particular product by partially offsetting the production costs or losses. This type of subsidy is predominantly found in developed markets.
This type of subsidies are most common in developing countries where governments subsidise such things as food, water, electricity and education on the basis that no matter how impoverished, all should be allowed those most basic requirements.
Evidence from recent studies suggests that government expenditures on subsidies remain high Federal aid many countries, often amounting to Federal aid percentage points of GDP. Subsidization on such a scale implies substantial opportunity costs. There are at least three compelling reasons for studying government subsidy behavior.
First, subsidies are a major instrument of government expenditure policy. Haley and Haley provided data to show that over the decade after China joined the World Trade Organization industrial subsidies have helped give China an advantage in industries in which they previously enjoyed no comparative advantage such as the steel, glass, paper, auto parts, and solar industries.
For example, some exporters substantially over declare the value of their goods so as to benefit more from the export subsidy.
Another method is to export a batch of goods to a foreign country but the same goods will be re-imported by the same trader via a circuitous route and changing the Federal aid description so as to obscure their origin. Thus the trader benefits from the export subsidy without creating real trade value to the economy.
Export subsidy as such can become a self-defeating and disruptive policy. Import subsidy[ edit ] An import subsidy is support from the government for products that are imported.
Though more rare, this subsidy further reduces the price to consumers for imported goods. Import subsidies have various effects depending on the subject. For example, consumers in the importing country are better off and experience an increase in consumer welfare due to the decrease in price of the imported goods, as well as the decrease in price of the domestic substitute goods.
Conversely, the consumers in the exporting country experience a decrease in consumer welfare due to an increase in the price of their domestic goods.
Furthermore, producers of the importing country experience a loss of welfare due to a decrease of the price for the good in their market, while on the other side, the exporters of the producing country experience an increase in well being due to the increase in demand.
Ultimately, this type of subsidy is rarely used due to an overall loss of welfare for the country due to a decrease in domestic production and a reduction in production throughout the world. However, this can result in a redistribution of income.
Another form of employment subsidy is the social security benefits. Employment subsidies allow a person receiving the benefit to enjoy some minimum standard of living. Tax subsidy[ edit ] Government can create the same outcome through selective tax breaks as through cash payment.
Exactly the same subsidy is achieved by giving a health tax deduction. Tax subsidies are also known as tax expenditures.
Tax subsidies are one of the main explanations for why the American tax code is so complicated.
Like other subsidies, they distort the economy; but tax breaks are also less transparent, and are difficult to undo. The European Union for instance criticizes Germany for its high number of money losing airports that are used primarily by low cost carrierscharacterizing the arrangement as an illegal subsidy.
For instance the fact that long distance buses in Germany do not pay tolls has been called a subsidy by critics pointing to track access charges for railways. Oil subsidies[ edit ] An oil subsidy is one aimed at decreasing the overall price of oil.
Oil subsidies have always played a major part in U. These began as early as World War I and have increased in the following decades. Housing subsidies can come in two types; assistance with down payment and interest rate subsidies.
The deduction of mortgage interest from the federal income tax accounts for the largest interest rate subsidy.
Although they are not subsidies in the form of direct economic support from the Government, they are no less economically, socially and environmentally harmful. A report studied the implicit subsidies accruing to 20 fossil fuel companies and found that, while highly profitable, the hidden economic cost to society was also large.
Narrow subsidies are those monetary transfers that are easily identifiable and have a clear intent.
They are commonly characterised by a monetary transfer between governments and institutions or businesses and individuals. A classic example is a government payment to a farmer.
Environmental externalities are the most common type of broad subsidy. Economic effects[ edit ] Competitive equilibrium is a state of balance between buyers and suppliers, in which the quantity demanded of a good is the quantity supplied at a specified price.
When the quantity demand exceeds the equilibrium quantity, price falls; conversely, a reduction in the supply of a good beyond equilibrium quantity implies an increase in the price. If a consumer is receiving the subsidy, a lower price of a good resulting from the marginal subsidy on consumption increases demand, shifting the demand curve to the right.
If a supplier is receiving the subsidy, an increase in the price revenue resulting from the marginal subsidy on production results increases supply, shifting the supply curve to the right.iLibrary - Federal Student Aid Handbook Federal Student Aid Handbook.
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