Birth-To-College Savings Accounts Could Ease College Debt Crisis
Career College Central Summary:
Six years ago, the state of Oklahoma pumped $1,000 into each of 40 new college savings accounts for infants born to some low- and middle-income mothers.
Today, as those children get ready to enter first grade, they do so with a good start toward saving some college money they won’t have to borrow when the time comes for their higher education. And, experts say, they and their parents are moving forward with the expectation that these kids are college-bound.
According to William Elliott III, associate professor of social welfare at the University of Kansas, the SEED for Oklahoma Kids project is an experiment to prove that “children who have assets for college would be more likely to believe college is in their future."
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