Bill Text: PA SR397 | 2009-2010 | Regular Session | Introduced

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Bill Title: Proclaiming the month of September 2010 as "College Savings Month" in Pennsylvania.

Sponsorship: Slight Partisan Bill (Republican 8-5)

Status: (Passed) 2010-09-27 - Introduced and adopted [SR397 Detail]

Download: Pennsylvania-2009-SR397-Introduced.html

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PRINTER'S NO. 2225
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE RESOLUTION
No. 397 Session of2010
INTRODUCED BY DINNIMAN, ALLOWAY, KASUNIC, O'PAKE, ORIE, RAFFERTY, STOUT AND COSTA, SEPTEMBER 27, 2010
INTRODUCED AND ADOPTED, SEPTEMBER 27, 2010
A RESOLUTION
Proclaiming the month of September 2010 as "College Savings
Month" in Pennsylvania.
WHEREAS, Pennsylvania families recognize that a college
education is one of the most important things we do to prepare
children for success in life; and
WHEREAS, The rising costs of a college education continue to
outpace inflation and, without proper planning, those costs can
jeopardize a family's ability to ensure its children have access
to higher education; and
WHEREAS, College is an investment that will pay off given
that the earnings gap between those with a high school diploma
and those with a bachelor's degree or beyond is estimated to
exceed $1 million over a lifetime; and
WHEREAS, Over the past decade, education loan volume
increased by more than 250% to more than $85 billion, and at the
end of the period, loans constituted approximately 70% of
Federal financial aid funding; and
WHEREAS, Almost two-thirds of college students graduate with
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debt, and many college graduates repay large amounts of debt
long after they have completed their education; and
WHEREAS, It is in the best interest of Pennsylvania families
to save for higher education expenses so that access to
educational opportunities is enhanced for children,
grandchildren and others without the crushing burden of
education loan debt; and
WHEREAS, In accordance with Federal and State law, the
Commonwealth of Pennsylvania operates the Pennsylvania 529
College Savings Program, with section 529 college savings plans
that offer both Federal and State tax advantages to encourage
saving for the expense of higher education and to promote
educational opportunity for all Pennsylvanians; and
WHEREAS, Since the program was created more than 17 years
ago, Pennsylvania families have opened more than 208,500
accounts and have contributed more than $2.5 billion through the
Pennsylvania 529 College Savings Program; therefore be it
RESOLVED, That the Senate proclaim the month of September
2010 as "College Savings Month" in Pennsylvania and recommit to
helping parents save for their children's college education.
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