PROVIDENCE – Babies born on May 29 will get a $529 head start on their college education savings, thanks to the R.I. Office of the General Treasurer’s CollegeBound Saver program.
General Treasurer Seth Magaziner in a statement announced the state contribution to the college savings accounts of all children born on May 29 of this year as a way to recognize the state’s 529 savings program.
The program helps families save for college education through free, no-tax savings accounts that can be used for tuition, vocational training, books, housing and other college-related expenses.
Parents of eligible children born May 29 must open their accounts within six months to receive the $529 contribution.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
Seth buying votes with our tax dollars.