Massachusetts Announces Universal CSA Program
On October 16, the Massachusetts Treasurer's Office announced the expansion of SeedMA CSA program to the entire state. The program, which will be called SeedMA Baby, will allow parents to opt into the program to receive a $50 seed deposit into a 529 account for their newborn or adopted children born after January 1, 2020.
Milwaukee Begins College Savings Program
The City of Milwaukee is planning to launch a CSA program, Fund My Future, in the next few months. Every child enrolled in kindergarten will receive a CSA with a $25 initial seed. Students can earn additional funds in the CSA through other incentivized behaviors, like good attendance.
Miami-Dade Public Schools Announces CSA Initiative
In early August, Miami-Dade County Public Schools (MDCPS) announced 90 new initiatives and programs for the upcoming school year, which collectively make up its 2018 Millennial Access Platforms (MAPs). The MAPs overview includes CSAs to “cultivate college saver identities and boost college savings among low- and moderate-income families.” Planning for the CSA program, College Bound Miami, will begin in the 2018-19 school year, with potential implementation in elementary schools by the fall of 2019.