THE GENERAL ASSEMBLY OF PENNSYLVANIA

HOUSE RESOLUTION

INTRODUCED BY SANTARSIERO, K. BOYLE, BRIGGS, V. BROWN, CALTAGIRONE, DiGIROLAMO, EVERETT, FABRIZIO, FLECK, FREEMAN, GEORGE, GINGRICH, HENNESSEY, KIRKLAND, KORTZ, LONGIETTI, MANN, McGEEHAN, MILLARD, MOUL, M. O'BRIEN, PARKER, PAYTON, READSHAW, ROCK, SONNEY, VEREB, VULAKOVICH, YOUNGBLOOD, DALEY, SANTONI, O'NEILL AND KULA, SEPTEMBER 22, 2011

INTRODUCED AS NONCONTROVERSIAL RESOLUTION UNDER RULE 35, SEPTEMBER 22, 2011  

A RESOLUTION

Recognizing the month of September 2011 as "College Savings

Month" in Pennsylvania.

WHEREAS, Pennsylvania families recognize that a college

education is one of the most important things to be offered to

young adults to prepare them for success in life; and

WHEREAS, The constantly rising costs of a college education

continue to outpace inflation and, without proper planning,

those costs can jeopardize a family's ability to ensure that

their children have access to higher education; and

WHEREAS, College is an investment that will pay off given

that the earnings gap, between those with a high school diploma

and those with a bachelor's degree or beyond, is estimated to

exceed $1 million over a lifetime; and

WHEREAS, Over the past decade, educational loan volume

increased by more than 250% to more than $85 billion, and at the

end of the period, loans constituted approximately 70% of

Federal financial aid funding; and

WHEREAS, Almost two-thirds of college students graduate with

debt, and many college graduates repay large amounts of debt

long after they have graduated; and

WHEREAS, It is in the best interest of Pennsylvania families

to encourage saving for higher education expenses so that access

to educational opportunities is enhanced for this Commonwealth's

children, grandchildren and others, without the crushing burden

of educational loan debt; and

WHEREAS, In accordance with Federal and State law, the

Commonwealth operates the Pennsylvania 529 College Savings

Program, a Section 529 college savings plan that offers both

Federal and State tax advantages to encourage saving for the

expense of higher education and to promote educational

opportunity for all Pennsylvanians; and

WHEREAS, Since the program was created more than 18 years

ago, Pennsylvania families have opened more than 208,500

accounts and have contributed more than $2.5 billion through the

Pennsylvania 529 College Savings Program; therefore be it

RESOLVED, That the House of Representatives recognize the

month of September 2011 as "College Savings Month" in

Pennsylvania and recommit to helping this Commonwealth's parents

save for their children's college education.