College Accounts at Birth: State Efforts Raise New Hopes

SEED for Oklahoma Kids is a statewide effort to help newer generations climb the educational ladder and build assets. Parents are offered $1,000 in their newborn's name and set aside in a college savings account, destined to be used for pursuing college or trade school education. The concept of the program is not unique to Oklahoma. Other states like Nebraska, Illinois, Maine, Pennsylvania, and more have implemented similar programs. "Automatic enrollment in a saving program, with the ability to opt out, turns out to have a much higher participation rate than relying on individuals to take the initiative."

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