
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: FRIDAY, May 21, 1993                   TAG: 9305210457
SECTION: EDITORIAL                    PAGE: A-8   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

PENALIZING THOSE WHO SAVE FOR COLLEGE

WHILE I was growing up, my parents guided and directed me to become a self-sufficient and hard-working person. They instilled upon me the values of saving money for emergencies and preparing for my children's education, as they had for mine. My husband and I were both lucky enough to secure good jobs when we were young, and are still working for the same companies we did 20 years ago when we were first married. We did take my parents' advice and started saving for our children's education when they were young. Now the years have passed and our oldest child is in college, and the other soon will be.

After mailing my taxes and sending the Internal Revenue Service a check for $2,000, I realized something is seriously wrong with our government and the rules and regulations it has put on our savings plans. My husband and I planned and saved for our children's college educations through our companies' saving plans, and we're being penalized. Those who didn't save or plan can send their child to college, and our government will pay for their education through loans and grants. Is this fair?

I have written my congressman and senator and am asking that others do the same. When savings from 401K plans and other similar ones are used to pay for college education, it should be exempted from any penalty. PATRICIA C. STEWART BLUE RIDGE

by CNB