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California Bill Would Offer Parents College Saving Account Tax Credit

  •  Max Pringle 
Friday, February 21, 2014 | Sacramento, CA
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Wikimedia / Tiffin Univ.
 

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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.

 

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 capitoleducation

Max Pringle

State Government Reporter

Max covers the state capital, bringing more than a decade of experience in print and public radio, including reporting for KPFA, KQED and KALW. He traces his news roots to working on his his high school newspaper.   Read Full Bio 

 @Maxbp Email Max Pringle

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