College savings rising in the first state

DELAWARE – Delawareans are getting increased opportunities to better save for college and prepare for the future.

47 ABC spoke with Delaware’s State Treasurer, Colleen Davis who says twice as many people have started saving for higher education compared to last year and it’s all thanks to the DE529 Education Savings Accounts.

That’s 41% higher than last year and exactly 1400 new accounts.

Davis says this comes at a time when education costs continue to rise and with these programs education looks to be more attainable. “We have first state, first steps and that is a program where we will match $100 for any individual that opens an account, a DE 529 for a beneficiary of 0 to 5 years old, and that’s really because we want to get families saving at a younger age,” said State Treasurer Colleen Davis.

Davis says at a younger age the greater impact is over a longer period of time. For more information about the savings plan, click here.