CARSON CITY, Nev. (AP) — Tens of thousands of Nevada kindergarteners are getting a jump start on saving for college, thanks to a state initiative that has gone statewide.
The Nevada College Kick Start program began as a pilot program in rural counties last fall.
State Treasurer Kate Marshall says accounts with $50 in them will be set up for about 35,000 kindergarteners this year.
No taxpayer money is involved. The program is financed through grants, private donations and management fees Nevada receives from financial institutions.
Marshall says studies have shown that even small college savings accounts can improve a child’s determination and preparedness to pursue higher education.
The accounts will accrue interest and can only be used college expenses.
Money will revert to the state if students don’t go to college by age 25.
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