S.1230 - Federal Government - A bill to amend the Internal Revenue Code of 1986 to provide a refundable credit for contributions to qualified tuition programs.

College Saver's Credit Act of 2007 - Amends the Internal Revenue Code to: (1) allow certain middle-income individual taxpayers age 18 or older a refundable tax credit for 50% of their contributions to a qualified tuition program (tax-exempt college savings plan), up to an annual limit of $2,000; and (2) require the distribution of financial education materials to participants in a qualified tuition program.

Requires the Secretary of the Treasury to study and report to Congress on the participation of individuals in qualified tuition programs.