Rhode Island General Treasurer Seth Magaziner today announced that Rhode Island babies born on Saturday, May 29, 2021 will receive $529 through Rhode Island's 529 savings program, CollegeBound Saver, in celebration of "529 Day."
"Any day is a good day to start saving for an education, but especially on May 29, we want to celebrate these families by supporting them with a CollegeBound Saver 529 account," said Treasurer Magaziner. "Whether their future includes a traditional four-year college, vocational school, or an apprenticeship, it is my honor to welcome the newest Rhode Islanders by helping them get a jump start on their educational savings."
Rhode Island's CollegeBound program is helping to make the rising costs of higher education more affordable for all Rhode Islanders. A CollegeBound Saver account is free to open, has no minimum investment, and offers easy, flexible ways for families to save for future education costs. Under Treasurer Magaziner's leadership, CollegeBound Saver has become one of the highest rated 529 college savings programs in the country, with a 5/5 rating from SavingforCollege.com.
Each baby born in Rhode Island on Saturday, May 29, 2021, will receive a $529 contribution when they open a CollegeBound Saver account, which can be done in minutes by visiting www.CollegeBoundSaver.com.
New parents do not need to take any additional action to ensure their child's eligibility for the promotion. Parents must simply open a CollegeBound Saver account for their eligible child within six months. # # #
CollegeBound Saver is Rhode Island's 529 plan that offers in-state residents some of the most affordable investment options of any 529 savings plan in the country. Savings in a CollegeBound account grow tax-free when used for tuition, vocational training, books, housing, and other education related expenses. Rhode Islanders can receive a state income tax deduction for contributing to a CollegeBound account.
Visit www.collegeboundsaver.com to learn more.