Gov. -elect Gina Raimondo holds Alice Conaty, 5 months, as she announces the expansion of the CollegeBound investing plan. Photo by Steve Klamkin WPRO News
WPRO News and the Associated Press
Governor-elect Gina Raimondo is announcing a plan aimed at ensuring that thousands of children born in Rhode Island every year have savings for college.
She is looking to expand a program that since 2010 has provided a $100 contribution to a college savings account to any child born in the state. Only about 400 children are enrolled.
“A lot of kids say ‘well, I’m not college material, I’m not going to go on past high school,’ well yes you are. You are, because you deserve a chance you deserve a middle class job and we’re going to start you off when you’re a baby and we’re going to get you where you need to be, because you deserve a chance to have a good job in Rhode Island” Raimondo said.
Under the plan announced Wednesday by Raimondo, the current treasurer, babies will receive the savings if their parents check a box when they fill out a standard form at the hospital. Before, families had to fill out several pages of forms and open a special account.
Raimondo said the change is expected to benefit thousands of families and could help create a more skilled workforce.
Maine and Nevada have similar programs.
