transcript

transcript BabySteps Savings Plan

00:00

Like most parents,

00:01

you dream that your kids will have a good education.

00:04

You hope they’ll be able to go to college…

00:07

…or receive vocational training.

00:08

You want to help your children as much as you can.

00:12

Did you know that you can start investing in your baby’s future today?

00:16

The Baby Steps Savings Plan is a program offered by the Massachusetts State Treasurer’s Office.

00:21

It's a seeded college savings account program

00:25

that encourages saving for college in the U.Fund, the Massachusetts 529 plan.

00:31

It lets you invest in your child’s post-high school education and training.

00:35

You’ll even get a free $50 deposit when you enroll!

00:39

Any baby born or adopted on or after January 1st, 2020

00:43

who is a Massachusetts resident can be enrolled in BabySteps.

00:48

Children can be enrolled in BabySteps until they turn one.

00:51

And adopted children are also eligible up to one year after their adoption date.

00:56

Here’s how BabySteps works:

00:58

Take the first step by checking the box on the worksheet you receive at the hospital…

01:03

Or enroll online at mass.gov/BabySteps

01:08

Next, open a U.Fund 529 college savings account and we’ll make an initial $50 deposit.

01:15

After that, you can contribute to the account to build up savings as often as you want.

01:20

The program also offers free financial education for your family.

01:25

The earlier you start adding to the account,

01:27

the more money your child will have for future aspirations like college tuition,

01:32

vocational training,

01:33

and other school expenses.

01:35

It’s a fact.

01:36

Kids with college savings are more likely to attend college after high school.

01:41

Take the first step!

01:42

Learn more at mass.gov/BabySteps

 

 

Feedback