Reps. Commend Passage of 529 Bill

In another example of bipartisanship with New Hampshire’s Representatives to Congress, both U.S. Reps. Frank Guinta, R-NH, and Ann McLane Kuster, D-NH, applauded the passage of HR 529 yesterday, a bill that they say would improve and strengthen 529 college savings plans.

The bill tweaked a number of program changes including streamlining paperwork, allowing the funds to be used to purchase computers and software for the students, and making sure that the students would not be taxed on refunded funds so long as they are deposited back into the accounts within 60 days.

“With college costs continuing to skyrocket, we must work together to ease the burden on American families, so every student who wants to go to college has the resources to do so,” said Kuster in a statement. “One of the best ways to increase access to higher education is by helping our families put away the money they need for their children’s college education. I was proud to cosponsor this legislation, which will strengthen 529 college savings plans and allow students to use 529 money to purchase computers – an essential tool for success in our 21st century education system. I applaud my colleagues in Congress for putting aside party politics and getting this done for our students and our families.”

“As the first in my family to graduate from college, I know firsthand the importance of investing in one’s education,” Guinta said in a statement. “Despite one’s background or financial situation, every single child – from the aspiring scientist on the Seacoast to the future public servant in the North Country – should have access to the boundless opportunities a great education provides. Our economy depends on an educated and motivated workforce; and, a good education presents an individual with economic opportunity and mobility. The overwhelming bipartisan passage of H.R. 529 is a common-sense approach towards ensuring that the dream of higher education is always within reach.”