National Education Savings Trust Act of 1987

[AI summary unavailable — showing source text] National Education Savings Trust Act of 1987 - Title I: Establishment of National Education Savings Trust - Establishes the National Education Savings Trust. Creates a Board of Trustees including the Secretaries of Education and of the Treasury, ex officio, and representatives of postsecondary education institutions and of the general public, to be appointed by the President, with the advice and consent of the Senate. Creates under the jurisdiction and control of the Board an Advance Tuition Payment Fund. Sets forth the general duties of the Board, including paying money directly to postsecondary institutions. Directs the Secretary of the Treasury, as Managing Trustee, to invest portions of Fund moneys in interest-bearing obligations of the United States or in federally-guaranteed obligations. Sets forth restrictions on uses of the Fund. Requires the Board to make annual reports to the Congress. Allows a purchaser to enter into an agreement with the Trust for the purchase of an advance tuition payment plan for use by a qualified beneficiary to pay a portion of the tuition and fees required to attend a postsecondary education institution. Sets forth required contents and design of a…