[Congressional Record Volume 140, Number 20 (Tuesday, March 1, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: March 1, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                                  HEAP

  (Ms. ESHOO asked and was given permission to address the House for 1 
minute and to revise and extend her remarks.)
  Ms. ESHOO. Mr. Speaker, I strongly support H.R. 6 for several 
reasons. Most importantly it will help prepare our youth for a 
productive future. However, it will do little good to prepare our 
children for higher education if parents cannot afford it.
  Higher education these days is often a matter of checkbooks as much 
as textbooks.
  In 11 years it will cost over $71,000 for 4 years at a public college 
and more than $139,000 at a private university.
  That is why I am introducing the Higher Education Accumulation 
Program or HEAP Act of 1994. This would allow parents to make tax 
deductible contributions to special savings accounts earmarked for 
their children's college or vocational education--in effect, an IRA for 
their children's education.
  Mr. Speaker, by encouraging families to save for their children, we 
help give future generations access to all the advantages of higher 
education.
  I ask my colleagues to support this legislation which offers parents 
suffering from collegiate sticker shock a HEAP of relief.

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