ERIC Number: ED317144
Record Type: Non-Journal
Publication Date: 1989-Nov
1989 Survey of College Savings and Guaranteed Tuition Programs.
McGuinness, Aims C., Jr.; Paulson, Christine P.
Two major designs have recently evolved for state involvement in college savings plans. The first concept, the tuition prepayment plan, was pioneered by the state of Michigan by passage of legislation in December 1986. The second concept, college savings bonds, was created and enacted the following year in Illinois. When questions arose about the tax status of tuition prepayment plans, other state legislatures began to prefer the college savings bond concept. This report describes how both types of savings plans work and lists a contact person or persons in each state that has passed savings bond plan or prepaid tuition plan legislation. The bulk of the report is composed of descriptions of the specific provisions of each state's program as of November 1989. For the 22 states with savings bond plans, information provided generally includes title of program, operational status, description, price, and implementation status. For each of the 11 states with prepaid tuition plans, information provided includes: title of program, operational status, description, price of the tuition prepayment, portability to another higher education institution, terminations and refunds, transferability to another person, and administrative authority. (JDD)
Descriptors: Educational Finance, Higher Education, Legislation, Program Development, State Programs, Student Costs, Trusts (Financial), Tuition
Education Commission of the States, 707 17th Street, Suite 2700, Denver, Colorado 80202-3427 ($5.75).
Publication Type: Reports - Research
Education Level: N/A
Authoring Institution: Education Commission of the States, Denver, CO.