Executive Director, Oak Hill Community Development Corporation
With the holidays fast approaching, checking everyone off your shopping list in time can feel overwhelming. When looking for the perfect gift for your child, do you hope to find something he or she will remember and cherish for years to come?
At Oak Hill Community Development Corporation, we work tirelessly to advance the economic status of Worcester children and families, and are committed to transforming our neighborhoods into communities that invest time, money, and energy to improve the lives of their residents.
This holiday season, we hope that you will consider making a contribution to your child’s 529 college savings account, or helping others get started on their savings through the SeedMA program.
What’s so powerful about opening a 529 college savings account through the SeedMA program is that just by opening it you will transform your child’s expectations about his or her future. In fact, no matter how much money you have saved in the account, just having one can make your child up to 7 times more likely to attend college. Research shows that children with $500 or less saved for college are 3 times more likely to attend college, and 4 times more likely to graduate than their peers without a college savings account.
Each eligible 529 account opened through the SeedMA program includes an initial $50 deposit from the Office of the Treasurer and Receiver General of Massachusetts, a small gift to help jumpstart your child’s savings.
Additional small dollar contributions can help you pave the way for your child’s future. If you haven’t already, you can set up an automatic transfer to your 529 college savings account or even deposit a check using your mobile device.
It’s also easy to ask family and friends to contribute to your child’s 529 account. You can set up a personalized Gift Page through your Fidelity account, and encourage others to contribute to your account online through a safe and secure dashboard. You can even share the link on your social media channels and ask others to chip in!
This year, think about asking family and friends to give a gift that your child will use for the rest of his or her life.
To set up your Gift Page or learn more about Fidelity’s College Gifting, please visit: https://www.fidelity.com/529-plans/college-gifting.
We hope you will join us in getting into the holiday spirit, and give the gift of higher education to a child in your life through a contribution to a 529 college savings account.