Help for Hawai`i Families Saving for College
January 8 - Lt. Governor Aiona announced that the Lingle-Aiona Administration will reintroduce a bill in the 2008 Legislative session that would provide tax relief to families participating in the state's college savings program, a priority of the Administration.
Governor Lingle and Lt. Governor Aiona proclaim January as College Awareness Month.
The legislation would establish a $10,000 tax deduction for single filers and a $20,000 deduction for dual filers if they put money into an account for their children under the HI529 - Hawai`i's College Savings Program, Lt. Governor Aiona said.
"The State of Hawai`i has the mission to help make going to college a possibility for all students in Hawai`i, and the legislation we are again proposing is another tool to help families save for the costs associated with a college education," Lt. Governor Aiona said.
Also on Tuesday, the Lt. Governor announced that he and Governor Linda Lingle proclaimed January to be College Awareness Month in Hawai`i. The Lingle-Aiona Administration is working with GEAR UP Hawai`i on a series of free college fairs across the state to help students prepare for a college education.
The statewide focus on college awareness follows Lt. Governor Aiona's announcement last month on significant improvements to Hawai`i's college savings program.
The enhanced program lowers costs and broadens investment options in order to to help reduce the financial burden placed on families looking to provide their children with a college education.
"With early planning and the right investments, more families can prepare for the cost of a college education," Lt. Governor Aiona said.
