PRINTER'S NO. 909
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE RESOLUTION
No.
135
Session of
2015
INTRODUCED BY TEPLITZ, SMITH, WOZNIAK, HAYWOOD, KITCHEN,
VULAKOVICH, GREENLEAF, YUDICHAK, FONTANA, PILEGGI, SCHWANK,
RAFFERTY, AUMENT, TARTAGLIONE, SCAVELLO, COSTA AND WILLIAMS,
MAY 13, 2015
INTRODUCED AND ADOPTED, MAY 13, 2015
A RESOLUTION
Designating May 29, 2015, as "529 Day" in Pennsylvania.
WHEREAS, The 529 College Saving Programs, named after section
529 of the Internal Revenue Code of 1986 (Public Law 99-514, 26
U.S.C. ยง 529), provides special tax breaks to encourage families
to save for a college education; and
WHEREAS, The Commonwealth of Pennsylvania offers two savings
plans that help Pennsylvania families save money for higher
education; and
WHEREAS, Since 1980, the rate of increase in the cost of
postsecondary education has exceeded the rate of increase in
inflation, public assistance to students and family income; and
WHEREAS, The rapidly rising cost of postsecondary education
poses a serious threat to the ability of the people across the
United States to ensure that they and their children have access
to postsecondary education; and
WHEREAS, Since 1992, the annual amount of new student loan
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commitments has increased from $15 million to $35 billion, which
represents an increasing burden on college graduates to pay for
their college education long after that education is completed;
and
WHEREAS, It is in the interest of the nation to ensure that
the people of this Commonwealth have the opportunity to obtain a
postsecondary education and to encourage parents to save for
their children's education; and
WHEREAS, By setting aside a modest amount of money each month
into one of the Commonwealth's 529 plans, Pennsylvania families
will have a tuition paid for at the time of college enrollment
and will save thousands of dollars in interest on student loans
in the future; therefore be it
RESOLVED, That the Senate designate May 29, 2015, as "529
Day" in Pennsylvania.
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