Massachusetts launches BabySteps Savings Plan
The State Treasurer’s office launched The BabySteps Savings Plan, a statewide post-high school education savings account program that gives every baby born or adopted in Massachusetts a free $50 seed deposit. The launch of the program has been years in the making. The Treasurer’s Office ran two pilot programs — SeedMA and SoarMA — in economically and racially diverse areas of the state.Return to 529 News center
In addition to the seeded savings account, this program will provide free comprehensive financial education tools and resources for families across the state. People can use these tools, which include pointers on how to pay for college, to continue saving for their children’s future while still paying their bills today.