 |
||||
|
||||
What's new with SEED?Policy developments. The Center for Public Policy Priorities (CPPP), a SEED state policy partner, has received assurances from the Texas Health and Human Services Commission that accounts in the state’s recently revived prepaid tuition program, the Texas Tomorrow Fund II, will not count against eligibility for means-tested public benefits. This decision builds on the exemption already in place for the original Texas Tomorrow Fund, and means that SEED accounts that roll over into the Texas Tomorrow Fund II will be exempted from all means-tested benefit programs. CPPP also has begun conversation with the Texas comptroller about implementing the matched savings program within the Texas Tomorrow Fund II, specifically on the provision to promote enrollment in the program by EITC recipients in an effort to increase the number of low-income accountholders. On September 27, President Bush signed the College Cost Reduction and Access Act of 2007, which increases funding for federal Pell Grants by more than $11 billion, with the maximum Pell award increasing from $4,310 in 2007 to $5,400 by 2012. While this increase is long overdue and should be commended, Pell grants alone will likely not be enough to cover the full cost of attendance for most qualifying students, and is not available to a large number of low- and moderate-income families. Federal action on this issue underscores the challenge of paying for college and provides an opportunity to highlight children’s savings accounts as complimentary strategy for addressing the issue. Events. The SEED Initiative will hold its semi-annual state policy meeting at the Chase Park Plaza Hotel in St. Louis, MO, on October 19. The meeting will run from 9:00 a.m. to 4:00 p.m. The agenda will include an in-depth examination of current children’s savings account policy proposals at both the state and federal levels; a discussion of policy implementation issues, including examples from Arkansas, Texas, and SEED for Oklahoma Kids; communications tools related to immigration and returns on investing in kids accounts; and plenty of opportunities for state partners and other CSA advocates to network with and learn from one another. Publications. A new survey by the College Savings Foundation finds that families are not saving enough for college and are resigned to decades of debt. The findings in this survey strengthen the case for children’s savings accounts and confirm the findings from the poll conducted by Peter Hart Research that, for most families, the primary goal of saving is to pay for college. Click here to read the report. The latest in CFED’s series of quarterly bulletins about the SEED Initiative, entitled Growing Knowledge from SEED, focuses on state policy and describes the progress to date in designing and advocating for progressive children’s savings accounts at the state level. This edition also identifies key opportunities and challenges in enacting progressive children’s savings accounts at the state level and offers lessons for state policymakers and advocates. Click here to read the complete bulletin. ***** |
"Baby Bonds" is a Big Idea Clinton: $5,000 for Every U.S. Baby Biden unveils plan to protect retirement savings A Time To Serve |
|||
|
||||
This bulletin is designed primarily for CFED's Partners in the SEED Initiative; however, other policymakers, advocates and practitioners may also find it useful. Please feel free to share it either by forwarding this e-mail or by sending us suggested additions to our mailing list. We welcome your feedback and suggestions. |
||||