Lawmakers Want to Increase Use of College Savings Plan
LINCOLN (AP) - Lawmakers are looking to increase participation in Nebraska's state-sponsored college savings plan, which is disproportionately used by higher-income families. In 2011, nearly half of the participants in the Nebraska Educational Savings Trust made more than $100,000. Families who made less than $50,000 accounted for less than 7 percent of participants. Sen. Rick Kolowski of Omaha said Tuesday he will introduce a bill next year that would eliminate one barrier for low-income families. The measure would exclude 529 college savings plans, student scholarships, and work-study income as assets for residents who apply for public benefits. State Treasurer Don Stenberg says more than 12 percent of minors in Nebraska are enrolled in a savings plan.