Walberg, Kildee Introduce Bipartisan Legislation to Help Families Save for Education

Washington, D.C. – Representatives Tim Walberg (R-MI) and Dan Kildee (D-MI) introduced bipartisan legislation today to help students and families save money for higher education. H.R. 701, the Helping Families Save for Education Act, will increase the annual amount individuals can contribute to Coverdell Savings Accounts from $2,000 to $10,000 and increase the age of eligibility from 18 to 22 years old.

"We must not allow the rising costs of education to be a barrier for students to continue learning and pursue a higher degree. Whether it's tuition, books, or other educational expenses, the Helping Families Save for Education Act will expand opportunities for hardworking families to save for their child's education. I'm proud to work with Congressman Kildee to provide families with increased options for their college savings," said Congressman Walberg.

"Making college more affordable for Michigan's families shouldn't be a partisan issue. That's why I'm proud to reintroduce the Helping Families Save for Education Act to allow working families to save more for their higher education," Congressman Kildee said. "By 2020, an estimated two-thirds of job openings will require some post-secondary education. Thus, ensuring that students can save for college is vital to ensuring that our state and workers remain competitive in a global economy. Allowing hardworking families to save more money is one of the ways that Congress should act on right away."

Congressman Walberg serves on the House Education and the Workforce Committee as Chair of the Workforce Protections Subcommittee. In addition, he serves on the House Oversight and Government Reform Committee. For more information on Walberg's work in Congress visit walberg.house.gov.