College access was in the spotlight at Wednesday’s meeting of the Missouri House Higher Education Committee.

Members heard a bill that would create a state-funded college savings account. HB 442, sponsored by Rep. Gayle Kingery (R-Poplar Bluff) would transfer $22.5 million from the abandoned fund account to the Missouri Legacy Fund.

Kingery is chairman of the House Higher Education committee.

His Senate counterpart, Sen. Gary Nodler (R-Joplin) has introduced a similar bill, SB 254.

The Legacy Fund helps to create accounts for lower-income families to save for college. It is unclear whether the state will match dollar for dollar. It depends on how many families participate in the program.

“We’re just trying to get more kids to college, and make it more affordable so that in the future people can attend college,” said State Treasurer Sarah Steelman. “It’s my goal as treasurer to make sure every child has an opportunity to go to college.”

Steelman was unable to attend the committee meeting due to inclement weather. Deputy Treasurer Doug Gaston spoke in her place, and he told the committee how this will not only make it cheaper to go to college, but it might motivate children to do better in school beforehand.

“If a child knows someone is saving money for them to go to college it may encourage them at a young age,” Gaston said.

And unlike some state-funded college savings programs, the Legacy Fund will pay for the student’s college tuition anywhere in the country, including vocational schools Gaston said.

“We believe it will significantly increase the amount of Missouri students that attend college,” said Constance Williams, vice president of student affairs. “It will also reduce the amount of students dependant upon Missouri financial aid.”

As it now stands, the interest from the money saved will also be put towards the student’s college education.

“The earlier you start the better off you’re going to be, so of course we’re trying to stress to parents of young kids to open your college savings account now,” Steelman said. “Hey parents and grandparents, you need to take action now, and here’s a way we can help you.”

The bill has not been voted on in committee yet.