[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 506 Introduced in House (IH)]







104th CONGRESS
  2d Session
H. RES. 506

 Expressing the sense of Congress that all parents should be afforded 
 the opportunity to plan ahead for their children's college education 
   through tuition prepayment plans that guarantee college for their 
                      offspring at a fixed price.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             August 1, 1996

Mrs. Morella submitted the following resolution; which was referred to 
        the Committee on Economic and Educational Opportunities

_______________________________________________________________________

                               RESOLUTION


 
 Expressing the sense of Congress that all parents should be afforded 
 the opportunity to plan ahead for their children's college education 
   through tuition prepayment plans that guarantee college for their 
                      offspring at a fixed price.

Whereas over the past 15 years, the average tuition at private colleges has 
        increased 90 percent, and at public institutions, tuition has risen 100 
        percent;
Whereas median family income during the same period rose only 5 percent;
Whereas at public institutions, tuition, room, and board as a percentage of 
        median family income rose to a high of 15 percent of median family 
        income in 1993;
Whereas at private institutions, tuition, room, and board as a percentage of 
        median family income rose to 41 percent in 1993;
Whereas the earnings advantage of completing college increased between 1970 and 
        1993 for both males and females;
Whereas according to the Department of Commerce, a person with a bachelor's 
        degree will average 55 percent more in lifetime earnings than a person 
        with a high school diploma;
Whereas by the year 2000, 86 percent of new jobs will require postsecondary 
        education and training;
Whereas as the cost of college continues to increase, concern about saving for 
        college has grown;
Whereas most families have difficulty saving for college because there are no 
        guidelines for how much to save and they must decide, sometimes by 
        default, how much to put aside for unknown future expenses;
Whereas tuition prepayment plans offer a systematic college savings plan that 
        sets manageable monthly payments enabling families to know just how much 
        money they must set aside each month in order to guarantee their child's 
        tuition;
Whereas tuition prepayment plans help families fight inflation by locking in and 
        guaranteeing their child's education at a fixed price;
Whereas tuition prepayment programs give students more choice among schools 
        because additional savings may enable some students to consider more 
        expensive schools as well as private institutions;
Whereas tuition prepayment programs encourage families to begin thinking about 
        their children's education ahead of time, and the additional savings may 
        prompt parents to set higher educational goals for their children;
Whereas tuition prepayment plans could reduce the need to borrow for college 
        which could reduce student debt, reduce the student default rate, and 
        reduce the financial burden faced by the next generation;
Whereas 12 States have adopted a tuition prepayment plan or a savings plan;
Whereas the State of Florida's Prepaid College Program is entering its 8th year 
        of providing better access to higher education for its children and has 
        sold more than 327,000 contracts to citizens concerned about preparing 
        for their children's future; and
Whereas the State of Maryland is planning to adopt a prepayment-installment 
        program to help parents pay for their children's college education in 
        advance: Now, therefore, be it
    Resolved, by the House of Representatives, That it is the sense of 
Congress that all States should adopt a tuition prepayment plan to 
allow families the opportunity to save for their children's education 
in advance and at a guaranteed rate.
                                 <all>