New Program Offers $100 Education Savings for Newborns

High school graduates are three times more likely to enroll in higher education if they have money saved for college. To help more young people pursue some form of education after high school, the Pennsylvania Treasury will deposit $100 in an education savings account for every baby that is born or adopted in 2019.

The Keystone Scholars program is available to all babies born or adopted after December 31, 2018, as well as babies born in 2018 to families who live in one of the six pilot counties (Delaware, Elk, Indiana, Luzerne, Mifflin, and Westmoreland). The program is funded by private donors without using General Fund revenues.

The money will be deposited in an account administered by the Pennsylvania Treasury though its PA 529 College and Career Savings Program.

Pennsylvanians can sign up for the program online here.