Anna Eshoo: “I strongly support H.R. 6 for several reasons. Most importantly it will help prepare our youth for a productive future.…”

“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.”