Author Archives

  • Join Us in Asking Congress to Pass H.R. 529

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    Betty Lochner
    Chair of the College Savings Plans Network and Director of Washington’s Guaranteed Education Tuition (GET) Program
    February 19, 2015

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    This is a very exciting time in the College Savings world as legislation to enhance 529 savings plans has legs in Congress. In fact, H.R. 529 will likely be taken up for vote in the U.S. House of Representatives sometime next week and we want to do everything in our power to ensure that it is passed. We have mobilized our members representing 49 states with 529 Savings Plans to advocate with their Representatives to pass this proposed legislation.

  • Presidents’ Day Reflections

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    Lucas Minor
    GET Marketing & Communications Manager
    February 16, 2015

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    Whenever Presidents’ Day rolls around, it rekindles many fond memories from U.S. history classes in elementary and high school. Iconic events come to mind such as George Washington crossing the Delaware, the signing of the Declaration of Independence, the framing of the Constitution and President Lincoln delivering the Gettysburg Address. I was always awed by these great leaders, and the impacts they made, not only in creating, growing and preserving a young nation, but in setting a precedent that representative democracies do work and can thrive. However, as I reflect on these larger-than-life images that many of us hold of our forefathers, I try to remember that despite all of the reverence we project onto them, many saw themselves simply as stewards of democracy and the public’s will.

    To that end, our nation’s leaders have (generally) fought to preserve the foundations of the Constitution and made policy decisions intended to serve the best interest of the people. While our 44 Presidents have certainly held widely varying views on the best approaches to this noble purpose, something most could agree on is the importance of education. It’s hard to disagree with the idea that the dissemination of knowledge is the cornerstone for a thriving economy, an increasingly just political system, and the overall advancement of society.

  • Legislation to Enhance 529 College Savings Plans

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    Betty Lochner
    Chair of the College Savings Plans Network (CSPN) and Director of Washington’s Guaranteed Education Tuition (GET) Program
    February 4, 2015
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    Last week Congresswoman Lynn Jenkins (R-KS) and Congressman Ron Kind (D-WI) introduced H.R.529, legislation in the U.S. House of Representatives that would make 529 plans more flexible and remove some of the obstacles participants face while saving for college.

  • Stop to smell the roses

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    Sheila Salehian
    Senior Deputy Treasurer, State of Nevada
    February 2, 2015

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    Happy Valentine’s Day! Have you ever wondered about the history of this holiday? Valentines Day is said to have started with an ancient Roman fertility ceremony called Lupercalia, held in mid-February, dating as far back as 496 AD. At the end of the 5th century, Pope Gelasius made it a Christian holiday, and moved the date back one day, to the 14th of February.  There was more than one saint named “Valentine” and as the holiday grew in popularity, it become associated with love and romance in the 1300’s. By the 1840’s it was celebrated in the U.S. with cards to loved ones.

  • President Realizes Formula for College Success Includes Savings Incentives

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    Betty Lochner
    Chair of the College Savings Plans Network & Director of Washington State’s Guaranteed Education Tuition (GET) Program
    January 29, 2015

    When I was elected Chair of the College Savings Plans Network (CSPN), never in my wildest imagination did I think I would be debating the value of one of the core benefits and characteristics of 529 plans with the President of the United States. Nonetheless, that is exactly what happened this past week when President Obama announced his plan to repeal the tax benefits associated with 529 college savings plans.

    As soon as the President’s proposal was announced as part of his State of the Union address, members of CSPN rallied together like never before to unite in an advocacy effort to defend the value of 529 plans for the more than 12 million American families that own accounts.  Our goal was to remind the President and our elected officials that planning and saving are vital components to ensuring higher education enrollment rates continue to rise in our country and that families receive the support they need in helping their children fulfill their dreams.

  • Create your own strategy to college planning

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    Francesca Nelson
    Public Affairs Officer – College Savings Plans of Maryland
    January 26, 2015

    In Maryland, we recently surveyed more than 1,000 families to see how they are preparing for the rising cost of college. Our research showed that 68% of families who are saving for college believe they will pay for all or part of their child’s college education. Of those not saving, 90% still believe that their child will attend a 4-year university. This financial commitment can be daunting, but not if you choose to plan ahead and do the proper research.

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

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    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.

  • From Dream to Reality: Children’s Savings Accounts Build Money and Momentum to Get More Children to College

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    By Lisa Groen
    Senior Writer, Utah Educational Savings Plan
    January 19, 2015

    More than 50 years ago, when the Rev. Martin Luther King Jr. stood on the steps of the Lincoln Memorial and spoke the words, “I have a dream,” he contrasted racial injustice with the U.S. Constitution’s promise of equality and opportunity for all. He called for change, including equal access to education.

    As the nation’s college savings plans continue to work to ensure that King’s dream of equal access is fully realized, they can rely on encouraging data that lends understanding to what may help children attain a college education. William Elliott, a researcher on the topic of children’s savings accounts (CSAs), reports that when children have savings accounts in their names, they are more likely to attend college, regardless of their parents’ personal savings and net worth. A child with as little as $1 to $499 in a CSA is 3 times more likely to enroll and 2.5 times more likely to graduate from college.*  This suggests that designating a savings account for a child’s future college expenses, regardless of the amount saved, may be vital to academic attainment—important information for families considering opening a 529 college savings account.

  • Resolving to Improve

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    By Jodi Golden
    Indiana Education Savings Authority
    January 12, 2015

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    Being a couple of weeks into the New Year, a lot of us are already questioning some of those New Year resolutions we made on January 1. Unfortunately, a large number of Americans struggle with continuing that healthy diet or active exercise regimen. These are vitally important to living a quality life and should certainly be a priority.
    However, another type of resolution frequently made and broken pertains to financial goals. Be it creating an emergency fund, paying off debt or saving for your children’s college education, we all start out with the best of intentions. Unfortunately, they don’t always last.

    In the spirit of encouragement, I’ve found a few helpful tips in an article from U.S. News and World Report* that could ultimately help other areas of your financial life; allowing you to then focus on saving for other important goals such as retirement and education.