senate Bill S. 335
Letting Students Use Untaxed Savings (529 Plans) to Buy Computers for College
Argument in favor
Allowing college students to use funds from 529 plans to buy computers and eliminating redundant paperwork requirements are common sense reforms. More needs to be done, but this is a positive step.
07/16/2016
I struggled to purchase a laptop for college. I didn't have a college saving's account or anything like that but there's no financial aid for computers. Any legislation to help students purchase an item that is necessary and required for all their classes should be passed.
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07/17/2016
As a professional. All my equipment is tax free, including my computer, makes sense that a student is a professional student, and allowing school equipment including the computer (absolutely required these days) to be tax free will just teach kids the ways of capitalism. And let printers be tax free, and paper, and rulers and calculators, that's what it is for me. Or fix the tax system, that's a good option too. But until then, treat school like a job.
07/16/2016
Laptops are basically a required tool for college these days. If books are covered, so should laptops be.
Argument opposed
Taxing distributions and refunds from 529 plans brings in revenue that could be used to fund other education-related programs. These savings plans tend to disproportionately benefit the rich who can afford to pay.
07/16/2016
While I see a natural benefit for allowing the use use of 529 funds to purchase a computer for college, my future vision sees 529 creep. Gotta have a printer to turn in papers. Or a special desk or chair for a bad back. I would rather see a plan like a 401k. You borrow against the plan tax free for a later payback. My future vision also sees a student dropping out and selling his fancy computer for money to drive/travel back home or maybe a trip to Miami and fund.
07/17/2016
Poor kids don't have savings, this helps richer families, that don't need help as much.
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07/17/2016
Students use computers for things outside of schoolwork just as often as they do. Computers last longer than the four average time they are in school. Student loans can be used to buy computers and colleges and university libraries have printers and computers available to students.
I struggled to purchase a laptop for college. I didn't have a college saving's account or anything like that but there's no financial aid for computers. Any legislation to help students purchase an item that is necessary and required for all their classes should be passed.
While I see a natural benefit for allowing the use use of 529 funds to purchase a computer for college, my future vision sees 529 creep. Gotta have a printer to turn in papers. Or a special desk or chair for a bad back. I would rather see a plan like a 401k. You borrow against the plan tax free for a later payback. My future vision also sees a student dropping out and selling his fancy computer for money to drive/travel back home or maybe a trip to Miami and fund.
As a professional. All my equipment is tax free, including my computer, makes sense that a student is a professional student, and allowing school equipment including the computer (absolutely required these days) to be tax free will just teach kids the ways of capitalism. And let printers be tax free, and paper, and rulers and calculators, that's what it is for me. Or fix the tax system, that's a good option too. But until then, treat school like a job.
Laptops are basically a required tool for college these days. If books are covered, so should laptops be.
We should reduce taxes to help save money instead, but I suppose this works for this specific issue.
Computers have become necessary to college. Though some schools have 24 hour libraries, it has been helpful for me so far to have my own computer. As long as it is tax free, and the government is not using funds to buy students computers, I don't see it as a problem at all
The cost of college is already incredibly high. If this financial burden on the student and their family could be lifted ever so slightly by allowing essential supplies such as a computer to be covered then by all means, we owe them that much.
Every student needs a laptop in today's universities it's that simple. There is nothing that the government could do with that money that would be more helpful to students then allowing them to invest in the laptop that best suites their needs.
Poor kids don't have savings, this helps richer families, that don't need help as much.
Students use computers for things outside of schoolwork just as often as they do. Computers last longer than the four average time they are in school. Student loans can be used to buy computers and colleges and university libraries have printers and computers available to students.
I don't see anything wrong with allowing students to use their savings to purchase a tool that could make them more productive in college and in life in general.
To control which account, taxed or untaxed, with which a student uses to purchase is overregulation. Beyond that, to require a citizen to pay further taxes (on top of sales taxes in most states) on the computer/supplies to obtain an education is not only immoral but illogical, as it makes it more expensive for an already expensive venture for the future of The United States of America.
Computers are near essential for a modern college education. Libraries do include these, but there's no reason that a families savings should not be able to go towards a machine that will enable easier studies
Congress should stay out of it. This thinking usage college costs so much already.
I believe this falls within the spirit, if not the letter, of the law authorizing 529 plans. The point is to allow families to save money, tax free, to help pay for college expenses.
This is why this country of in debt. The taxes are not what makes a computer to expensive to purchase, and removing taxes on it only hurts the government.
Not everyone has enough in their savings to get a computer, tax the rich, support the poor
As long as the purchase is related to their educational needs, it should be permitted.
Computers have become an imperative tool for college academics, and so educational funds should be available for it.