Title 17 — Education

As used in this Chapter, unless the context otherwise requires: (a) “Account” or “college account” means an individual savings account established in accordance with this Chapter. (b) “Account owner” means the individual who enters into a tuition savings agreement pursuant to thi…

COL021307 There is hereby established the Guam College Savings Program. The purpose of this program is to enable families to save for college tuition and other expenses related to higher education through college accounts. The program shall provide college accounts to enable resi…

(a) The Commissioner shall administer the program pursuant to this Chapter. The Commissioner may make changes to the program as required for participants to obtain or maintain the federal tax benefits or treatment provided by § 529 of the Internal Revenue Code of 1986, as amended…

(a) A college account may be opened by any person who desires to save money for the payment of qualified higher education expenses on behalf of a designated beneficiary. Said person shall be considered the account owner as defined in § 50001, supra. An application for an account …

(a) Nothing in this Chapter shall be construed to: COL021307 (1) Give a designated beneficiary any rights or legal interest with respect to an account; (2) Guarantee that a designated beneficiary: (A) Will be admitted to an institution of higher education; or (B) Upon admission t…

(a) There is hereby established the College Savings Program Trust Fund. The program manager shall administer and have custody of the Fund. All payments from the Fund shall be made in accordance with this Chapter. (b) The Fund shall consist of a trust account and an operating acco…

The program manager of the Guam College Savings Program shall file a report annually with the Department of Revenue and Taxation, setting forth the names and identification numbers of account owners, designated beneficiaries, and distributees of college accounts, the amounts cont…