,i  #aaeth ,,congress  #ast ,session    
,h4 ,r4 #iii  ,,in ,,the ,,house ,,of   
,,representatives  ,february #i1        
#bjag,mr4 ,walberg 7for himself and ,mr4
 ,kildee7 introduced the following bill2
 which was referred to the ,committee on
 ,ways and ,means  ,a ,,bill  ,to amend 
the ,internal ,revenue ,code of #aihf to
 expand access to ,coverdell education  
savings accounts4  #a4 ,short title     
,this ,act may be cited as the ,helping 
,families ,save for ,education ,act4    
#b4 ,findings ,the ,congress finds the  
following3  7#a7 ,college costs have    
increased tremendously over the past    
decade4 ,when adjusted for inflation1   
the average published price for         
in-,state students at public #d-year    
universities is #cd percent higher than 
it was a decade ago and more than twice 
as high as it was #bj years ago4 ,the   
price of private nonprofit #d-year      
institutions has increased #bd percent  
during the last #aj years and #ea       
percent during the last #bj years4  7#b7

 ,federal financial aid for students has
 also increased rapidly but failed to   
mitigate the issues of rising college   
costs4 ,between the #bjje-bjjf academic 
year and the #bjae-bjaf academic year1  
the amount of ,federal financial aid in 
the form of ,pell ,grants1 ,federal     
student aid1 campus based aid1 veterans 
educational benefits1 and tax credits   
increased from #hb4d billion to #aeh4c  
billion or by #ib percent4 ,the ,federal
 ,government's share of total student   
aid is #ff percent4  7#c7 ,students     
continue to borrow more than they can   
afford4 ,during the #bjad-bjae academic 
year1 approximately #fa percent of      
students who earned bachelor's degrees  
from public and private nonprofit       
institutions at which they began their  
studies graduated with debt4 ,these     
students borrowed an average of #bh1ajj1
 an increase of #h4i percent compared to
 #e years ago and an increase of #ah4a  
percent compared to #aj years ago4  #c4 
,expansion of ,coverdell education      

savings accounts  7a7 ,increase in age  
limitation of beneficiary after which   
contributions to account cannot be made 
,section #ecj7;b77#a77;,a77ii7 of the   
,internal ,revenue ,code of #aihf is    
amended by striking age #ah and         
inserting age #bb4  7b7 ,increase in    
annual dollar limitation on             
contributions to account ,section       
#ecj7;b77#a77;,a77iii7 of such ,code is 
amended by striking #b1jjj and inserting
 #aj1jjj4  7c7 ,effective dates  7#a7   
,increase in age limitation ,the        
amendments made by subsection 7a7 shall 
apply to contributions made after the   
date of the enactment of this ,act4     
7#b7 ,increase in annual dollar         
limitation on contributions ,the        
amendments made by subsection 7b7 shall 
apply to contributions made in taxable  
years ending after the date of the      
enactment of this ,act4