The BabySteps Savings Plan (BabySteps) is a program that jumpstarts families into saving for future college and/or vocational costs
February 24, 2022
The BabySteps Savings Plan (BabySteps) is a program that jumpstarts families into saving for future college and/or vocational costs.
Those who sign up will receive a free $50 deposit into your child’s 529 savings account from the Massachusetts State Treasurer’s Office. Every child who is a Massachusetts resident is eligible to be a part of BabySteps within one year of their birth or adoption. Families need to open a U.Fund 529 College Investing Plan account within one year of their child’s birth or adoption to receive the funds.
Children with college savings are 31% more likely to plan on attending college than children without college savings. BabySteps is here to help educate children, parents, and their communities about the value of planning early.
Many families may have read about BabySteps when they filled out the Parent Worksheet for a birth certificate at the hospital. If you want to get a $50 deposit, the next step is to open a U.Fund 529 Plan account.
Families with any questions can email babysteps@tre.state.ma.us at any time.
https://www.mass.gov/service-details/about-the-babysteps-savings-plan