For Immediate Release
March 31, 2026
Sierra Wallace, Communications Director
(202) 355-8431
swallace@dccouncil.gov

Councilmember Henderson Introduces Legislation to Help District Residents Save for Higher Education

Washington, DC – Yesterday, Councilmember Henderson introduced the Balancing Educational Investments Amendment Act of 2026. This bill would help families save for their children’s education by increasing the maximum account contribution limit for the District’s College Savings Plan and requiring the plan contribution cap adjust to changing educational costs over time.

“Now more than ever, District residents require stable educational investment options that reflect rising tuition. The price of pursuing higher education has increased nationwide by 49% for public four-year colleges and 57% for private nonprofit four-year institutions over the past 30 years,” stated Councilmember Henderson, noting statistics from the College Board. “The District’s College Savings Plan currently caps total savings for a beneficiary at $500,000. That limit no longer reflects the total cost of pursuing an undergraduate degree as well as advanced or professional degrees. Meanwhile, access to affordable loans and financing opportunities will become increasingly limited because of recent legislation at the federal level. Updating the limits of the DC College Savings Plan, will allow residents to stay afloat in the complicated world of college costs.”

The legislation would establish a framework by which the Chief Financial Officer would review and adjust the account maximum every five years based on objective measures of educational costs including tuition, fees, room and board for on-campus students at eligible institutions, as well as federal financing limits and the availability of financial assistance.  

This bill was co-introduced by Councilmembers Charles Allen, Brianne K. Nadeau, Matthew Frumin, Janeese Lewis George, and Zachary Parker.

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