Malloy highlighting his new college savings plan


NEW HAVEN, Conn. (AP) — Gov. Dannel P. Malloy is drawing attention to a new law he pushed that creates a financial incentive for Connecticut families who want to save for college tuition.

The CHET Baby Scholars Trust fund recently became law on July 1. The new initiative offers new parents up to $250 for investing in a tax-advantaged college savings account.

Under the program, the state will provide Connecticut families that open a 529 college savings account by their child’s first birthday or within the first year after an adoption. Families that save an additional $150 in the first four years will receive a state match of $150, for a total of $250 in state funds.

Malloy and Treasurer Denise Nappier were scheduled Thursday to officially launch the program at a New Haven event.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

WTNH NEWS8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Also, you can now block any inappropriate user by simple selecting the drop down menu on the right of any comment and selection "Block User" from there.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s