TX
Texas Senate Bill SB1858

Texas 2015 - 84th Regular

Texas Senate Bill SB1858

Voted on by Senate
 
Out of House Committee
 
Voted on by House
 
Governor Action
 
Bill Becomes Law
 

Caption

Relating to programs in public schools designed to facilitate planning and saving for higher education and facilitate personal financial literacy instruction.

Impact

The proposed legislation would have a notable impact on the state's education system by institutionalizing financial education as part of student curricula. By incorporating financial literacy instruction alongside the savings programs, the bill seeks to equip students and their families with essential skills for managing finances and saving for future educational opportunities. Furthermore, the exclusion of savings in these programs from the consideration of assets for state financial aid eligibility is a significant change that supports students’ access to higher education funding.

Summary

SB1858 is a bill designed to establish programs within public schools that facilitate planning and saving for higher education, while also promoting personal financial literacy. The bill allows school districts and open-enrollment charter schools to create school-based savings programs in partnership with various financial institutions. These programs aim to raise awareness about the importance of saving for college and provide access to accounts specifically dedicated to higher education expenses, such as 529 plans and Coverdell accounts.

Contention

Despite its intended benefits, the bill is not without contention. Critics may argue that the program's efficacy in improving students' financial situations hinges on the quality of financial education provided and the accessibility of banking services for all families. Some stakeholders might voice concerns over whether public schools should be managing financial institutions or programs, emphasizing the need for clear guidelines and supportive resources to ensure the success of these initiatives. Additionally, the effectiveness of such savings programs could vary based on community engagement and the level of support from local financial institutions.

Last_action

Referred to Education Committee on 03/25/2015

Latest TX SB1858 Activity

View All Events: TX 2015 - 84th Regular SB1858

Companion Bills

TX HB3987

Identical Relating to programs in public schools designed to facilitate planning and saving for higher education and facilitate personal financial literacy instruction.

Previously Filed As

TX SB8

Relating to public education, including parental rights and public school responsibilities regarding instructional materials and the establishment of an education savings account program.

TX HB5261

Relating to public education, including parental rights and public school responsibilities regarding instructional materials and the establishment of an education savings account program.

TX HB1

Relating to primary and secondary education, including the certification, compensation, and health coverage of certain public school employees, the public school finance system, special education in public schools, the establishment of an education savings account program, measures to support the education of public school students that include certain educational grant programs, reading instruction, and early childhood education, the provision of virtual education, and public school accountability.

TX HB1

Relating to primary and secondary education, including the certification, compensation, and health coverage of certain public school employees, the public school finance system, special education in public schools, the establishment of an education savings account program, measures to support the education of public school students that include certain educational grant programs, reading instruction, and early childhood education, the provision of virtual education, and public school accountability.

TX HB100

Relating to public education and public school finance, including the rights, certification, and compensation of public school educators, contributions by a public school to the Teacher Retirement System of Texas, and an education savings account program for certain children.

TX HB3781

Relating to special education in public schools, including the special education allotment under the Foundation School Program, an education savings account program for certain children with disabilities, and a grant program to reimburse public schools for the cost of certain employer contributions for retirees of the Teacher Retirement System of Texas employed to teach special education.

TX HB1053

Relating to measures to facilitate the successful completion of degree and certificate programs by certain adult learners at public institutions of higher education.

TX HB5267

Relating to the establishment of the Education Savings Account Program to allow certain children to use public money to pursue educational alternatives to public schools and an insurance premium tax credit for contributions made for purposes of that program.

TX HB4340

Relating to the establishment of the Education Savings Account Program to allow certain children to use public money to pursue educational alternatives to public schools and an insurance premium tax credit for contributions made for purposes of that program.

TX SB1474

Relating to special education in public schools, including the special education allotment under the Foundation School Program, an education savings account program for certain children with disabilities, and a grant program to reimburse public schools for the cost of certain employer contributions for retirees of the Teacher Retirement System of Texas employed to teach or provide services related to special education.

Similar Bills

No similar bills found.