https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Mon, 29 Jun 2026 17:30:05 +0000 https://boards.hellobee.com/topic/publicly-matched-college-savings#post-2185639 Thu, 21 May 2015 11:01:37 +0000 honeybear 2185639@https://boards.hellobee.com/ <p>I like the idea of encouraging saving, but this program isn't very well designed if the purpose is to encourage low to moderate income families to save. The article says every child in the system gets an account with $50. I imagine that private schools skim off some of the wealthier kids, but that still doesn't mean it's a program for families with lower/moderate incomes. If you really want to help lower income children go to college, you put an income phase-out on the program. Otherwise, you're just raising the cost of college for everyone down the line. </p> https://boards.hellobee.com/topic/publicly-matched-college-savings#post-2185604 Thu, 21 May 2015 10:48:20 +0000 Bea 2185604@https://boards.hellobee.com/ <p>That is awesome! </p> https://boards.hellobee.com/topic/publicly-matched-college-savings#post-2185546 Thu, 21 May 2015 10:27:14 +0000 yoursilverlining 2185546@https://boards.hellobee.com/ <p>I had not heard of that, but it's a fantastic idea that should ideally be nationwide. </p> <p>Our state has a publically-matched 529 program too: every baby born in the state is eligible for a $500 grant - only requirement is you open a 529 account with the state agency that manages the account (which is then managed by Merrill Lynch). It costs parents absolutely nothing, and takes all of about 10 minutes to sign up for. You don't ever have to contribute another dime to the account, but if you do, they will also match a % up to 3,000. Free money for college, and yet, most people don't take advantage of it, which frankly infuriates me to no end. </p> https://boards.hellobee.com/topic/publicly-matched-college-savings#post-2185535 Thu, 21 May 2015 10:24:31 +0000 Smurfette 2185535@https://boards.hellobee.com/ <p>That's awesome! </p> https://boards.hellobee.com/topic/publicly-matched-college-savings#post-2185467 Thu, 21 May 2015 09:57:36 +0000 twodoghouse 2185467@https://boards.hellobee.com/ <p>Wow, that's amazing! </p> https://boards.hellobee.com/topic/publicly-matched-college-savings#post-2185343 Thu, 21 May 2015 09:10:44 +0000 T.H.O.U. 2185343@https://boards.hellobee.com/ <p>Thats neat. </p> https://boards.hellobee.com/topic/publicly-matched-college-savings#post-2185337 Thu, 21 May 2015 09:04:39 +0000 Truth Bombs 2185337@https://boards.hellobee.com/ <p>Has any one else heard about San Francisco's program to encourage low and moderate income families to save towards college?</p> <p>I found this article on CNN this morning:<br /> <a href="http://money.cnn.com/2015/05/20/news/economy/kindergarten-to-college-1-million/index.html" rel="nofollow">http://money.cnn.com/2015/05/20/news/economy/kindergarten-to-college-1-million/index.html</a></p> <p>I think this is an awesome program. Every little bit that can be saved towards a child's education makes a difference. And if families of four living on a household income of $40K in the San Francisco area can save a little bit here and there then anyone can. Some points from the article I found really interested were that children with a college savings account (regardless of the balance) are more likely to attend college than kids without one, and that 14% of families eligible for this program are participating when the national average is only 3% of families saving for college education costs. I think it's awesome that the city is helping to put focus on this and contributing financially on these kids behalf. The dollar amounts are small but something it better than nothing and with compouding interest it's impressive how much money can grow from the time a child is in kindergarten until they are freshman in college. </p>