David Newville: All Publications, Events and Press

Increasing College Completion Among Low-Income Students through Savings

Asset Building — Mon, 19 Oct 2009 08:03:00 -0400

Earlier this year, the Obama Administration released a bold new plan for improving the state of higher education in the United States. Its fiscal year 2010 budget proposal included several items aimed at increasing postsecondary education enrollment and completion rates, and decreasing the financial burden that college represents to many lower and middle class families. [1] These proposals include reforming the federal student loan program, expanding Pell Grants for low-income students, and creating a new College Access and

New America Commends Obama Administration for Committing to Improve 529 Plans

Erin Drankoski — Wed, 09 Sep 2009 15:34:00 -0400

Washington, D.C. -- The importance of saving for college has increased dramatically in recent years. Tuition costs have vastly outpaced growth in both family income and federal student aid commitments over the past several decades. At the same time, the importance of receiving a postsecondary education has become paramount in getting ahead in today's global economy. The result has been unsustainable levels of debt for some students, while access and completion rates for low-income students have suffered. Research shows that even small amounts of targeted

After Oppenheimer: Improving College Savings Plans

Erin Drankoski — Tue, 08 Sep 2009 11:19:00 -0400

After their children's college savings accounts lost 38 percent of their value last year, some Illinois parents might be seeing some justice soon. The Illinois Treasurer's office recently reached a tentative deal with Oppenheimer funds to recover $77 million of the $85 million in losses.

The Saver's Bonus

Asset Building — Wed, 20 May 2009 05:36:00 -0400

What is the Saver's Bonus?

The Saver’s Bonus is a policy proposal that would reward low- and moderate-income individuals and families who save at tax time. Every dollar deposited in a designated savings product would be matched with an additional dollar from the federal government, up to a $500 annual maximum. Participants would make or report contributions to an eligible account on their federal income tax return, and the bonus would then be transferred directly to the designated account. The bonus could go toward a variety of restricted savings products and those without a designated savings product would be able to open an account directly on their federal income tax return.

Five Low-Cost Federal Policy Ideas to Help Families Save for College

Asset Building — Wed, 29 Apr 2009 10:10:00 -0400

The Potential of 529 College Savings Plans

At a time when low-income students are underrepresented in higher education and the cost of attendance is becoming increasingly unaffordable, 529s have the potential to address issues of college readiness, access and completion. College savings can help make higher education more affordable, and have the potential to change aspirations and behaviors of both students and their parents. Research from the asset building field has shown that even a relatively

Toward Progressive 529 Plans

Asset Building — Thu, 23 Apr 2009 06:14:00 -0400

Key talking points on 529 plans, their current flaws, and how progressive features might remedy them.

New America Foundation commends Vice President Biden for Committing to Improve 529 College Savings Plans

Communications — Fri, 17 Apr 2009 09:05:00 -0400

Washington, DC -- The New America Foundation commends Vice President Biden and the Obama Administration's Middle Class Task Force for their announcement today to review 529 plans to make them more effective and reliable. The announcement came during a meeting in St. Louis, Missouri on College Affordability. "529s are a great vehicle for college savings for many better-off families, now the challenge is to make them a good deal for low- and middle-income families as well," said Ray Boshara, Vice President of Domestic Policy Programs at the New America

The Basics of Progressive 529s

Asset Building — Tue, 24 Feb 2009 09:30:00 -0500

Background on 529 college savings plans

In 2001, the Internal Revenue Code authorized college savings plans (529 plans) as a tax-advantaged savings tool. In a 529 plan,[1] individuals save money in an account that is dedicated for future college expenses of a beneficiary. States administer 529 plans, and offer a limited selection of funds with a range of risk and return characteristics.[2] In

In D.C., Opening Doors Even in Tough Times

Cecille Isidro — Sun, 11 Jan 2009 11:27:00 -0500

As foreclosure rates continue to reach record highs here in the Washington region and across the country and the global economy reels, many Americans have begun to question whether expanding homeownership is a wise strategy. While there is plenty of blame to go around for this mess, the goal of expanding homeownership is still an important one and should not be sacrificed.

A Citizen's Guide to the ASPIRE Act

Asset Building — Mon, 01 Oct 2007 11:09:00 -0400

Introduction in the 111th Congress is Currently Pending

Section Titles