With the price of college tuition increasing each year, it's never too early to start saving. As part of a new incentive program, Oregon wants to give kindergartners $25 to start their college savings accounts.
The Oregon College Savings Plan, a state-sponsored plan designed to help people save for education, just launched its "Kinder Grad" incentive program.
Starting today, when an Oregon College Savings Plan account is opened for a Oregon kindergartener who doesn't already have an account, $25 will automatically be deposited within three months.
"It's never too early to plan for your child's future, and we've found that even a small $25 incentive may be just the nudge families need to start saving for higher education," Michael Parker, executive director for the Oregon Savings Network, which administers the Program, said in a recent press release.