PA State Treasurer; Talking to kids about cancer

Monday, 23 May 2011 15:43

PA State Treasurer; Talking to kids about cancer

Written by Scott LaMar, Director of Radio Smart Talk

Radio Smart Talk for Tuesday, May 24:

We'll explore the state of the state's economy on Tuesday's Radio Smart Talk. Pennsylvania Treasurer James McCord will join us to take your questions about state investments, pensions for public employees, and other economic issues. We'll also discuss how the Commonwealth's annual appropriations to Pennsylvania schools have compared over the last five years.

Then, we'll talk with Kathy Allen, a licensed social worker with the York Cancer Center, about talking to kids about cancer, as part of Facing Cancer Together, witf's interactive multi-media effort to connect the stories and lives of people touched by cancer.

LISTEN TO PROGRAM:

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# Ben 2011-05-24 10:06

The debate is always framed sympathetic to students who can't afford to go to or complete college. Certainly there are many who truely have economic difficulty and we should be sympathetic to them. However, parents are always urged to save for college, BUT if parents save, they are penalized and are not afforded the support and scholarships given to students whos parents chose not to save. Assets and current income are the only parts of the equation. Shouldn't the system be biased toward students and parents who have 'played by the rules'? Shouldn't the long term ability to have saved been part of the equation?

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# Nicholas 2011-05-24 10:07

Mr. McCord mentioned "access" while addressing increased and increasing student debt burdens. Can Mr. McCord comment on how access to higher education has changed in Pennsylvania, as it breaks down by family income or family socio-economic status?

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# PA Treasury 2011-06-01 17:58

Ben, thanks for your inquiry. Paying for college is a huge financial challenge for families, and one of the best ways to reduce future costs is to save now. In fact, saving now can make college up to 50% less expensive than paying with loans! There are many ways to save, but some are better than others. One of the best ways for Pennsylvania families to save is through the Pennsylvania 529 Guaranteed Savings Plan. GSP savers keep pace with tuition inflation – not the financial markets – and receive significant tax benefits. GSP savings are not included in determining student eligibility for Pennsylvania financial aid – assets in other 529 plans are counted. At the federal level, GSP savings are considered a parental asset (like a savings account or mutual fund) – thus only 3% to 6% of your account balance is counted towards your family’s contribution for federal financial aid. The GSP is a great way to save and still be eligible for financial aid. Visit www.pa529.com to learn more.

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# PA Treasury 2011-06-01 18:32

Nicholas, thanks for your inquiry. The National Center for Education Statistics recently examined average net price among undergraduates (price of attendance after all grants). It found that between 1995-96 and 2007-08, average net price increased 85% for white students, 91% for African American students, 52% for dependent students in lowest quartile of family income, and 72% for dependent students in highest quartile of family income. The PA Dept. of Education has examined the gap in college funding resources for families vs. actual cost of attendance. For PASSHE schools after estimated family contribution, it found a gap of $7,247 for families of four making under $50,000/year, and a gap of $4,262 for all families. Treasurer McCord believes potential impact of significant cuts to higher education should be carefully considered – these investments generate economic return and help make college more affordable. Visit pa529.com to learn how the PA 529 College Savings Program can help.

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