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COLLEGE SAVING NEWS


  • Push to Tax '529' Plans Stokes Debate

    President Barack Obama's push to start taxing college-savings accounts, including the popular "529" accounts, would affect millions of Americans who are stashing money for their children's education, ...

  • Are 529 plans really just a tax break for the rich?

    President Barack Obama's proposal this week to roll back tax benefits for so-called 529 plans exposes a fundamental disagreement about who is benefiting from these state-sponsored college savings plans.

  • Now He’s After Middle-Class Savers

    President Obama is pitching his new tax plan as a way to help the middle class at the expense of the rich. But middle-class savers are bound to notice if he achieves two of the White House’s stated goals—to “roll back” tax benefits of 529 college savings plans and “repeal tax incentives going forward” for Coverdell Education Savings Accounts.

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529 MEDIA RESOURCES


  • Statement re 2015 State of the Union Address

  • ABLE Act Release 12.2014

    Betty Lochner, chair of the College Savings Plans Network issued the following statement regarding the Achieving a Better Life Experience (ABLE) Act, legislation modeled after 529 college savings plans that would create tax-exempt savings accounts for certain disabled individuals:

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President’s College Plan: Well Intentioned with Misguided Funding Strategy

Betty Lochner
Chair of the College Savings Plan Network & Director of Washington State’s Guaranteed Education Tuition (GET) Program
January 22, 2015


During Tuesday night’s State of the Union address President Barack Obama proposed some philosophical changes in the road to higher education, including a strategy that provides free community college for all Americans. The idea of creating greater access to higher education to strengthen our country’s economy, workforce and the number of career opportunities for our citizens is commendable and inspiring.

I think that as Americans, no matter your political affiliation, we can all agree that a better educated citizen-base is essential to helping our country prosper with more engaged, innovative and open-minded people that have the resources to purchase, invest, volunteer and create.

The biggest concern with the President’s plan is that it comes at the expense of one of few tax breaks for middle class families. The President’s proposal calls for the removal of the ability for Americans to use the money earned in their 529 college savings account on a tax-free basis. The rationale behind this plan is that additional income taxes collected from students could be one of the mechanisms for funding the free community college proposal.

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