'First Step' CollegeInvest Program Helps New Parents Save For The Future

DENVER (CBS4)- Parents in Colorado can be gifted $100 that goes towards their child's education. Gov. Jared Polis launched the new program called "First Step" with the nonprofit CollegeInvest.

Parents can get $100 just for signing up. It's designed for newborns and newly adopted children in Colorado.

For the first time in Colorado, parents and adoptive parents of children five years or younger can get $100 dollars that goes towards their 529 college savings plan.

CollegeInvest CEO Angela Baier tells CBS4's Britt Moreno more children are likely to go to a post-high school education program like a trade school, university or community college when they know their parents have financially planned. This is one way to ease school debt.

Lower income families are also eligible to earn a $2,500 match. They need to put $500 into the account for five years to be gifted $2,500.

LINK: CollegeInvest