# College Savings Recovery Act

This bill allows people who had money in certain college savings accounts to recover funds they lost due to investment losses or account mismanagement. Specifically, it creates a way for account holders to claim back money from what's called a "qualified tuition program" (also known as a 529 plan) if their investments performed poorly or if they were harmed by how the account was managed.

The main impact is that if you had a 529 college savings plan that lost significant value—whether through bad investment decisions, market downturns, or other issues—you could potentially get some of that money back through a recovery process established by this bill. This is particularly important for families who saved diligently for college but saw their savings shrink unexpectedly. The bill essentially creates a safety net for people who feel they were treated unfairly or whose accounts were mishandled.

This affects parents, grandparents, and students who use 529 plans to save for education expenses. If you've been frustrated watching your college savings account decline when you believed it was being managed properly, this bill gives you a legal avenue to seek compensation. The specifics of how much you could recover and what exactly qualifies would depend on the details of how the bill is implemented, but the core idea is protecting people's hard-earned education savings from being lost to poor management or unfavorable circumstances beyond their control.

College Savings Recovery Act.

Burr, Richard

College Savings Recovery Act This bill sets forth a special tax rule allowing a rollover to a Roth Individual Retirement Account (Roth IRA) from a long-term qualified tuition program (i.e., a 529 qualified tuition program) without penalty.