“You and your baby are one of the first babies that are going to have a seeded college account,” Goldberg said as Miranda reacted with surprise.
The money is part of the BabySteps Savings Plan, a new statewide program that provides a
Goldberg was in
Baystate was the first area hospital where Goldberg stopped in to tout the program.
After a brief sweep through the maternity ward, she sat down for a round-table discussion with Baystate officials and hospital staff about the future of the program.
Accompanying her was
Hildreth has donated the money to cover the first year, or some 6,000 children or the equivalent of
The idea behind BabySteps is simple. Studies show that young children who have college savings accounts are statistically more likely to go to college, and also as likely not to graduate college with crippling levels of student loan debt.
Each child born or adopted since the new year is eligible to receive a
BabySteps aims to start the process off by providing the seed money for families of newborns who to build college funds for their children.
“What this does is it begins the aspirations, it begins the savings,”Goldberg said.
“This is a win-win for the families but also for Massachusetts,” she said.
More people going to college or vocational colleges provides the state with a highly-educated, skilled workforce that is critical to having a productive economy, she said.
“I’m very excited about the program,” she said. “And then when you see these beautiful babies and their families, and they’re all so excited by all this, it makes my day.”
And because the first days after childbirth are such a hectic time for parents, Baystate will see to it that information is also provided to area pediatricians, who will remind them of the program.
He said he was pleased the Goldberg had decided to include Baystate in her BabySteps promotion tour.
“We basically have 4,500 deliveries a year at Baystate, and we’re also the high-risk pregnancy center for all of
“Whenever a statewide program starts up and they decide to have a kickoff here in
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