The state wants to make it a little bit easier
By
Seth Magaziner, Rhode Island General Treasurer
My time teaching children in post-Katrina Louisiana and watching them grow as the region slowly recovered had a profound effect on me that lasts to this day.
As General Treasurer, I am pleased to promote college savings through Rhode Island's college savings program, the CollegeBoundfund.
With
the skyrocketing cost of higher education, college feels out of reach for too
many Rhode Island families. And far too many families that do send their
children to college get saddled with overwhelming debt.
It
does not have to be this way. With support and a long-term plan, every family
in Rhode Island should be able to afford sending their children to college. I
strongly encourage families to begin planning for their children's higher
education early, by opening a CollegeBoundfund account.
CollegeBoundfund offers
Rhode Island residents a number of special advantages, including a state tax
deduction, low fees and the ability to make online gifts and automatic
contributions.
Families that start putting money aside for college early increase the likelihood that their children will one day go to college.
Children with college savings
accounts are three times more likely to attend college, and four times more
likely to graduate. Saving even a modest amount of money each month can really
add up through the years.
Having
a college savings account during your child's school years strongly reinforces
the message that your family values education. On birthdays and holidays,
family members and friends can give very meaningful gifts by making a
contribution to your child's CollegeBoundfund account.
To
encourage families to start saving for college as soon as their child is born,
CollegeBoundfund now offers a CollegeBoundbaby enhancement that enables new
parents to receive a $100 grant earmarked for their child's higher education
costs.
New parents simply "check the box" on the Rhode Island Birth
Worksheet to receive the $100 grant. The grant is also available for children
adopted by Rhode Island residents within one year.
And
to celebrate National College Savings Month, Rhode Island families that open a
CollegeBoundfund account this September will receive a $25 account
contribution.
Please visit 25forcollege.com today to open a college savings
account and get your $25 account contribution.
At
the Treasurer's Office, we understand the financial challenges families face.
This contribution for families who invest in their child's education is one way
we can send the message that we believe in the limitless potential of Rhode
Island's children, and we want to help put them on track to achieve their
dreams.