The Senate Finance Committee is poised to take the next step to make modest improvements in the 529 college savings plans.

On Wednesday, the Committee is likely to approve a bipartisan measure co-sponsored by more than a third of its members similar to a bill that cleared the House. The Financial Services Institute has spoken out in support.

The key lures the revisions would add to the plans are to make computers and computer related outlays eligible for purchase with 529 savings and to make unspent 529 funds tax-free for students if they are put in other similar 529 vehicles.

The primary advantage of the latter provision, said Joseph Russo, who will be co-presenting a 529 seminar for the Financial Planning Association Tuesday afternoon, is that while these savings plans are made to be predictable over the long haul, scholarships and other forms of student aid are not.

Russo, a retired Notre Dame financial aid director, noted parents can save carefully for a child’s education, but scholarships could create a surplus in the account they didn’t expect.

American Council of Education Federal Relations Director Steven Bloom called the additional 529 benefits helpful.

But investor advocate and financial advisor Ric Edelman said he doesn’t think the improvements are so big that they will persuade more parents to start the accounts.

Earlier this year, the Obama Administration threated to try to end these tax-advantaged accounts, but quickly retreated.