The credits would be available to individuals earning less than $100 thousand per year and couples earning less than $200 thousand.
Assembly member Susan Bonilla authored the bill. She says students from all backgrounds should be able to afford a college education.
“This is a bill that, particularly for younger families, says we’re aware of the importance of college," says Bonilla. "But we’re also aware of the burden it’s going to cause and as a state we want to get behind you as you save.”
Bonilla says saving makes a difference because children with a college savings account attend college at a rate seven times higher than those without.
Bonilla says total student loan debt in California amounts to nearly $100 billion. Backers of the bill say that’s money that could be better spent boosting the state’s economy.
The bill will be heard in a policy committee in the coming weeks.
Californians looking to earn bachelor’s degrees will soon have another option at community college. A pilot program was approved today.
California elementary school teachers and administrators will soon be returning to work after the holiday break. A new state law starting January 1 will affect how they discipline some students.
A new partnership between Sacramento State University and Sierra College is part of a long-term plan for a new campus in Roseville.
A new bill in the legislature proposes the first steps to locating a California State University campus in the City of Stockton.
University of California students again tried to block a tuition increase proposal – without success.