White House Tells 529 Savers To Go To Community College

town hall ^ | 1/23/15 | Conn Carroll

[Nachum]

White House Press Secretary Josh Earnest said Friday that middle-class families concerned about President Obama's plan to raise taxes on their college savings should just send their children to community college.

Obama's plan raises taxes on families saving for college by eliminating the tax-free status of money withdrawn from a 529 savings accounts. "I was very surprised by the Obama 529 proposal because in many ways it is anti-middle class for families trying to afford college," SavingforCollege.com founder Joe Hurley told The New York Times.

Asked to "square" Obama's State of the Union claim that he wanted to make college more affordable for middle-class families with his 529 tax hike, Earnest said, "The reforms the president has proposed for the 529 program are reforms that he would consider only in the context of the other education reforms that he put forward."

[Wyatt's Torch]

Very true