Betty Lochner
Chair of the College Savings Plans Network (CSPN) and Director of Washington’s Guaranteed Education Tuition (GET) Program
February 4, 2015
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.
Sheila Salehian
Senior Deputy Treasurer, State of Nevada
February 2, 2015
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.
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.
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.
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.
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.
By Jodi Golden
Indiana Education Savings Authority
January 12, 2015
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.
LaKesha Page
Director of College Savings, TNStars College Savings 529 Program
State of Tennessee Treasury Department
December 22, 2014
While the holiday season adds to my already full to-do list, the festivities of the holiday are truly enhancements to my family’s busy lives filled with work, school, extra- curricular activities, club meetings, church and social affairs.
Betty Lochner
Chair of the College Savings Plans Network & Director of Washington’s Guaranteed Education Tuition (GET) Program.
December 18, 2014<
The US Senate has passed the ABLE (Achieving a Better Life Experience) Act of 2014 after this same legislation recently advanced through the US House of Representatives ( see Wall Street Journal article). Now the legislation goes to the President for his approval and is expected to be signed into law before the end of 2014. If written into law, the changes become effective for investors in 2015.
ABLE is proposed federal legislation that would allow families and individuals to save through a Federal tax-advantaged account for future qualified expenses associated with the care of a person with a disability. Qualified expenses are those related to the individual’s disability, including health, education, housing, transportation, training, assistive technology, and personal support.
Eric Zarnikow
Executive Director, Illinois Student Assistance Commission
December 15, 2014
As we approach the holidays, probably the last thing anyone wants to think about is taxes. But since 529 plans have some significant tax advantages, it’s worth having the conversation—even at this busy time of year.
The holidays are fast approaching and the town is hustling and bustling with people frantically trying to find the best gifts and deals. With all the “this deal’s for you” noise, how can college savings plans across the country promote the idea of making a gift to a loved one’s college savings account?
Do all of our friends have college savings plans? Sadly, most don’t. Would the promise of a contribution incentivize a family to open an account? Maybe, maybe not. Is this what parents want and prefer? How can one incorporate the idea of making a child’s college dream a reality this holiday season? It’s not about the amount; it’s about taking action and setting an expectation while changing the mindset from “if” to “when I go to college…” Who wouldn’t want a child to have a bright future?
By Sandra Houston
Director of College Illinois! Prepaid Tuition Program
December 1, 2014
My family and I have created special holiday traditions and memories that will last a lifetime. One of my favorite traditions is working on crafts with the children in the family. I still treasure the lopsided snowflakes, tissue paper wreaths and handmade gifts. Amidst the glitter, glue, crayons and giggles, wonderful memories were made. Although my nephew is now in graduate school, the Christmas ornament he made when he was seven years old is still proudly displayed on our Christmas tree each year –much to my nephew’s embarrassment.