College Savings Initiative: Policy Papers

529s and Public Assistance

Asset Building — Tue, 10 Nov 2009 16:10:00 -0500

529s are tax-advantaged accounts designed to help families save for post-secondary education. In recent years, state policymakers and 529 administrators have worked to expand access to 529 plans and increase the participation of lower-income families through outreach, advertising, and targeted incentives such as matching deposits and reducing or eliminating fees.[1] Yet, as plan administrators and state and federal policymakers design new strategies for expanding the use of 529 plans

Low-Cost State Policy Innovations to Help Families Save for College

Asset Building — Tue, 03 Nov 2009 13:56:00 -0500

At a time when low-income students are underrepresented in higher education and the cost of attendance is becoming increasingly unaffordable, 529 college savings plans have the potential to address issues of college readiness, access and completion. Savings can help reduce higher education debt, making college more affordable, and has the potential to change aspirations and behaviors of both students and their parents. Research from the asset building field shows that even a relatively small amount of savings may have positive impacts on behavior and educational achievement.

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

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

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

Reforming 529 College Savings Plans to Better Reach Low-Income Families

Asset Building — Wed, 01 Mar 2006 04:00:00 -0500

Qualified Tuition Plans, commonly called “529 plans” after the applicable section of the federal tax code, were implemented in their present form in 2001. These state-sponsored plans can help families save for their children’s college education, or an adult can open an account to use for their own post-secondary expenses. Under current law, earnings and qualified withdrawals are exempt from federal income tax liability. Because these tax incentives are scheduled to expire after 2010, Congress intends to act to make these provisions permanent.

Building the Financial Bridge to College

Asset Building — Thu, 01 Dec 2005 12:00:00 -0500

California has the opportunity to make 529 accounts more attractive to low- and moderate-income families by providing a match for savings they put towards a college education.

Section 529 Savings Plans, Access to Post-Secondary Education, and Universal Asset Building

Asset Building — Wed, 23 Feb 2005 04:00:00 -0500