1Designating the month of September 2013 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, Almost two-thirds of college students graduate with
15debt, and many college graduates repay large amounts of debt
16long after they have completed their educations; and

17WHEREAS, It is in the interest of Pennsylvania families to
18encourage saving for higher education expenses so that access to

1educational opportunities is enhanced for this Commonwealth's
2children, grandchildren and others, without the burden of
3educational loan debt; and

4WHEREAS, In accordance with Federal and State law, the
5Commonwealth of Pennsylvania operates the Pennsylvania 529
6College Savings Program, a Section 529 college savings plan that
7offers both Federal and State tax advantages to encourage saving
8for the expense of higher education and to promote educational
9opportunity for all Pennsylvanians; and

10WHEREAS, Since the program was created more than 18 years
11ago, Pennsylvania families have opened more than 208,500
12accounts and have contributed more than $2.5 billion through the
13Pennsylvania 529 College Savings Program; therefore be it

14RESOLVED, That the Senate designate the month of September
152013 as "College Savings Month" in Pennsylvania.