Reps. Jennifer McClellan D-Va., and Linda Sánchez, D-Calif., have introduced legislation, the Accessible College Campus and Expanded Student Savings (ACCESS) Act, to allow 529 savings plans to be used for transportation and parking expenses related to the cost of attendance at eligible higher education institutions and apprenticeship programs.
The ACCESS Act would amend Section 529 of the Internal Revenue Code.
"As the cost of post-secondary education continues to rise, we must do more to improve affordability and reduce barriers to access for prospective students," McClellan said in a statement. "Prohibitive costs for transportation and parking pose an undue financial burden on students pursuing their education. My ACCESS Act will empower students to use their 529 Savings Plan to pay for parking and transportation costs and improve accessibility for everyone, regardless of their socioeconomic status."
The ACCESS Act has been endorsed by Virginia529, the College Savings Plans Network (CSPN), the Virginia Community College System (VCCS), the Virginia College Advising Network (VCAN), the Council for Independent Colleges of Virginia (CICV), the National Association of Independent Colleges and Universities (NAICU), and the College Savings Foundation (CSF).
