1Designating the month of September 2014 as "College Savings
2Month" in Pennsylvania.

3WHEREAS, Pennsylvania families recognize that a college
4education is an important opportunity available to young adults
5to prepare them for success in life; and

6WHEREAS, The rising costs of a college education continue to
7outpace inflation and, without proper planning, those costs can
8jeopardize a family's ability to ensure that their children have
9access to higher education; and

10WHEREAS, College is an investment that will pay off given
11that the earnings gap, between those with a high school diploma
12and those with a bachelor's degree or beyond, is estimated to
13exceed $1 million over a lifetime; and

14WHEREAS, Seventy percent of all Pennsylvania students
15graduating from a four-year college have loan debt, and many
16college graduates repay large amounts of debt long after they

1have completed their education; and

2WHEREAS, It is in the interest of Pennsylvania families to
3encourage saving for higher education expenses so that access to
4educational opportunities is enhanced for this Commonwealth's
5children, grandchildren and others, without the burden of
6educational loan debt; and

7WHEREAS, In accordance with Federal and State law, the
8Commonwealth of Pennsylvania operates the Pennsylvania 529
9College Savings Program, a Section 529 college savings plan that
10offers both Federal and State tax advantages to encourage saving
11for the expense of higher education and to promote educational
12opportunity for all Pennsylvanians; and

13WHEREAS, With 188,039 open accounts and nearly $3.4 billion
14in assets, Pennsylvania families are saving more than ever
15before for higher education with the Pennsylvania 529 College
16Savings Program; therefore be it

17RESOLVED, That the Senate designate the month of September
182014 as "College Savings Month" in Pennsylvania.