PRINTER'S NO. 3537
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE RESOLUTION
No.
929
Session of
2018
INTRODUCED BY CORR, R. BROWN, CALTAGIRONE, DAVIS, DRISCOLL,
FREEMAN, HEFFLEY, HENNESSEY, HILL-EVANS, JAMES, KINSEY,
LONGIETTI, MACKENZIE, MARSICO, J. McNEILL, MILLARD, NEILSON,
O'NEILL, PEIFER, PICKETT, QUIGLEY, M. QUINN, RYAN, SANTORA
AND WARD, MAY 18, 2018
INTRODUCED AS NONCONTROVERSIAL RESOLUTION UNDER RULE 35,
MAY 18, 2018
A RESOLUTION
Designating May 29, 2018, as "529 College Savings Day" in
Pennsylvania.
WHEREAS, Student loan debt is now the second highest consumer
debt category, behind only mortgage debt, and is higher than
both credit cards and auto loans; and
WHEREAS, Among college graduates in the class of 2017,
Pennsylvania graduates have an average student loan debt of more
than $35,000 per student; and
WHEREAS, The PA 529 College Savings Program helps
Pennsylvanians reduce the need for borrowing and save for higher
education through two distinct plans: the Pennsylvania 529
Guaranteed Savings Plan and the Pennsylvania 529 Investment
Plan; and
WHEREAS, Earnings on contributions to a college saving plan
are tax exempt provided they are used for qualified higher
education expenses; and
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WHEREAS, Since the inception of college savings programs,
more than 96,000 participants have withdrawn more than $2.8
billion in principal and earnings from the Pennsylvania 529
Guaranteed Savings Plan and the Pennsylvania 529 Investment Plan
to cover higher education expenses; and
WHEREAS, Designating May 29 as "529 College Savings Day"
serves to increase public understanding and appreciation of the
value of saving for higher education through the PA 529 College
Savings Program; therefore be it
RESOLVED, That the House of Representatives designate May 29,
2018, as "529 College Savings Day" in Pennsylvania.
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