Assemblywoman Christy Smith, D-Santa Clarita, presented a college affordability bill to the Assembly floor Monday where it was passed, and is now headed to the senate, officials said. 

Assembly Bill 853 addresses the financial burdens of paying for college and rent, according to officials.

Currently, ScholarShare, a college savings plan, is not authorized to directly pay for expenses such as rent. As a result, AB 853 is working to change that, according to officials.  

The bill alleviates additional costs associated with college and streamlines recordkeeping for these expenses.

“Many prospective students view college as a pathway to a better life,” Smith said. “There is, however, a dichotomy between the importance of attending college and its expense. I’m proud my bill tackles college affordability so bright minds are not deterred from satiating their curiosities.”  

Assembly Bill 853 proposes changes to allow for distributions from a ScholarShare 529 account to third parties for the purpose of paying for qualified higher education expenses.

With this bill, California would join nine other states across the nation in authorizing room-and-board payments from a college savings account.

“It’s time California rose up to the task to address the burdensome price tag associated with the cost of college,” Smith said. “We must expand our definition of college affordability to more than just tuition. Students should live full lives inside and outside college classrooms and not have to worry about making ends meet to pay for rent.”

For more information about Assembly Bill 853, click here.

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