Louisiana Administrative Code
Title 28 - EDUCATION
Part VI - Student Financial Assistance-Higher Education Savings
Chapter 1 - General Provisions
Section VI-101 - General Provisions
Universal Citation: LA Admin Code VI-101
Current through Register Vol. 50, No. 9, September 20, 2024
A. The Louisiana Student Tuition Assistance and Revenue Trust (START Saving) Program was enacted in 1995 to provide a program of savings for future college costs to:
1. help make education affordable and
accessible to all citizens of Louisiana;
2. assist in the maintenance of state
institutions of postsecondary education by helping to provide a more stable
financial base to these institutions;
3. provide the citizens of Louisiana with
financing assistance for education and protection against rising postsecondary
education costs, to encourage savings to enhance the ability of citizens to
obtain access to institutions of postsecondary education;
4. encourage academic excellence, to promote
a well-educated and financially secure population to the ultimate benefit of
all citizens of the state; and
5.
encourage recognition that financing an education is an investment in the
future.
B. The START Saving Program establishes education savings accounts (ESAs) by individuals, groups, or organizations with provisions for routine deposits of funds to cover the future educational costs of a designated beneficiary.
1. In addition to earning regular interest at
competitive rates, certain accounts are also eligible for earnings enhancements
(EEs) provided by the state to help offset the beneficiary's cost of qualified
higher education expenses.
2. The
EE amount is determined by the account owner's classification, annual federal
adjusted gross income, and total annual deposits of principal.
AUTHORITY NOTE: Promulgated in accordance with R.S. 17:3091-3099.2.
Disclaimer: These regulations may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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