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| THE GENERAL ASSEMBLY OF PENNSYLVANIA |
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| HOUSE RESOLUTION |
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| INTRODUCED BY SANTARSIERO, K. BOYLE, BRIGGS, V. BROWN, CALTAGIRONE, DiGIROLAMO, EVERETT, FABRIZIO, FLECK, FREEMAN, GEORGE, GINGRICH, HENNESSEY, KIRKLAND, KORTZ, LONGIETTI, MANN, McGEEHAN, MILLARD, MOUL, M. O'BRIEN, PARKER, PAYTON, READSHAW, ROCK, SONNEY, VEREB, VULAKOVICH, YOUNGBLOOD, DALEY, SANTONI, O'NEILL AND KULA, SEPTEMBER 22, 2011 |
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| INTRODUCED AS NONCONTROVERSIAL RESOLUTION UNDER RULE 35, SEPTEMBER 22, 2011 |
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| A RESOLUTION |
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1 | Recognizing the month of September 2011 as "College Savings |
2 | Month" in Pennsylvania. |
3 | WHEREAS, Pennsylvania families recognize that a college |
4 | education is one of the most important things to be offered to |
5 | young adults to prepare them for success in life; and |
6 | WHEREAS, The constantly rising costs of a college education |
7 | continue to outpace inflation and, without proper planning, |
8 | those costs can jeopardize a family's ability to ensure that |
9 | their children have access to higher education; and |
10 | WHEREAS, College is an investment that will pay off given |
11 | that the earnings gap, between those with a high school diploma |
12 | and those with a bachelor's degree or beyond, is estimated to |
13 | exceed $1 million over a lifetime; and |
14 | WHEREAS, Over the past decade, educational loan volume |
15 | increased by more than 250% to more than $85 billion, and at the |
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1 | end of the period, loans constituted approximately 70% of |
2 | Federal financial aid funding; and |
3 | WHEREAS, Almost two-thirds of college students graduate with |
4 | debt, and many college graduates repay large amounts of debt |
5 | long after they have graduated; and |
6 | WHEREAS, It is in the best interest of Pennsylvania families |
7 | to encourage saving for higher education expenses so that access |
8 | to educational opportunities is enhanced for this Commonwealth's |
9 | children, grandchildren and others, without the crushing burden |
10 | of educational loan debt; and |
11 | WHEREAS, In accordance with Federal and State law, the |
12 | Commonwealth operates the Pennsylvania 529 College Savings |
13 | Program, a Section 529 college savings plan that offers both |
14 | Federal and State tax advantages to encourage saving for the |
15 | expense of higher education and to promote educational |
16 | opportunity for all Pennsylvanians; and |
17 | WHEREAS, Since the program was created more than 18 years |
18 | ago, Pennsylvania families have opened more than 208,500 |
19 | accounts and have contributed more than $2.5 billion through the |
20 | Pennsylvania 529 College Savings Program; therefore be it |
21 | RESOLVED, That the House of Representatives recognize the |
22 | month of September 2011 as "College Savings Month" in |
23 | Pennsylvania and recommit to helping this Commonwealth's parents |
24 | save for their children's college education. |
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