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Wednesday, 28 May 2014 08:24

County seeds college accounts for 10,000 students

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CLEVELAND (AP) - The county that includes Cleveland has put $100 into bank accounts for 10,000 public school kindergartners to encourage them and their parents to save for college.

Cuyahoga County Executive Ed FitzGerald says it is the largest such program in the country. He says accounts will be created for 15,000 more public and private school kindergartners this fall.

The accounts are being seeded with county money. Voters approved a county charter in 2009 that called for establishing a countywide education fund.

FitzGerald says too few lower- and middle-class families are saving for college, and the program aims to create a local culture that encourages more saving.

Parents are being mailed information explaining the program and how they can contribute to the accounts, which are maintained at KeyBank.

Associated Press

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