Section 301. Declaration of policy.
The General Assembly finds and declares as follows:
(1) Tuition at institutions of higher education is difficult for many to afford and difficult to predict. As a result, the ability of individuals and families to plan for future educational expenses has been adversely affected.
(2) It is in the best interest of the citizens of this Commonwealth to foster higher education in order to provide well-educated citizens.
(3) It is in the best interest of the citizens of this Commonwealth to encourage State residents to enroll in institutions of higher education.
(4) Providing a mechanism to help assure the higher education of the citizens of this Commonwealth is necessary and desirable for the public health, safety and welfare.
(5) The purposes of this chapter are to:
(i) Provide wide and affordable access to institutions of higher education, both public and private, for the residents of this Commonwealth.
(ii) Encourage attendance at institutions of higher education, both public and private, and help individuals plan for educational expenses.
(iii) Provide programs for postsecondary educational savings as both a means and an incentive for the citizens of this Commonwealth to provide for future higher education expenses.
(iv) Provide to the citizens of this Commonwealth means of saving for postsecondary education that provides them with the advantages of "qualified State tuition programs" as defined by section 529 of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 529).
((5) amended June 22, 2000, P.L.418, No.58)