College Savings Month

    WHEREAS, as the State of Alabama is committed to competing in the global economy, our citizens must recognize the challenge ahead and provide their children with the education and skills that will enable them to successfully compete; and

WHEREAS, the rising costs of higher education have out-paced inflation and growth in family income; which poses a serious threat to the ability of citizens to ensure their children’s access to post-secondary education; and

WHEREAS, the amount of student loan debt continues to rise, leaving college graduates with the ever-increasing burden of paying for their college education long after graduation; and

WHEREAS, nearly four out of ten parents of college-bound children are not putting money aside for their education; and

WHEREAS, it is in the State’s interest that access to post-secondary education for our children be maintained; and encouraging parents to save for their children’s education promotes that public purpose; and

WHEREAS, it is in the best interest of our State’s employers to ensure a well-educated workforce; and

WHEREAS, government, at both the federal and state levels, needs to encourage saving versus consumption and assisting rather than hindering parents, grandparents, friends and businesses, as they seek to support the education of children, grandchildren and others in need of help to meet their higher education goals; and

WHEREAS, the State of Alabama provides a college savings plan as a Section 529 Qualified State Tuition and Savings Plan (QSTP) through duly enacted laws passed by the state’s legislature, including state tax incentives for citizens as an acknowledgement of the value of higher education opportunity:

NOW, THEREFORE, I, Robert Bentley, Governor of Alabama, do hereby proclaim September 2011, as

College Savings Month

in the State of Alabama, and urge families and employers throughout the State to recognize the benefit of attaining a higher education and urge the citizens of Alabama to begin saving for their children’s education.

Given Under My Hand and the Great Seal of the Office of the Governor at the State Capitol in the City of Montgomery on the 30th day of August 2011.

                        

Governor Robert Bentley