Pilot Initiative to Take Place in the City of Worcester

WORCESTER — State Treasurer Deb Goldberg, alongside Worcester families, legislators, and community leaders, launched the enrollment for her office’s $eedMA initiative, the first-of-its-kind pilot program for college savings accounts. The kickoff event coincided with the Worcester Public Schools’ (WPS) third annual “Countdown to Kindergarten” at the Eco-Tarium, Treasurer Goldberg and her staff were onsite to provide programmatic information for parents and begin the process of enrolling students into the $eedMA pilot. The event welcomed all incoming WPS kindergartners and their families for an evening of activities and helpful tips as they begin their first academic experience. An estimated 600 children and families were in attendance.

“Providing every family with access to affordable higher education is critical to strengthening both the Worcester and the state’s economies,” said Treasurer Deb Goldberg. “The tremendous support exhibited by community leadership will provide a blueprint for success, as we expand the $eedMA program across Massachusetts.”

The $eedMA initiative provides kindergarten students in the Worcester Public School System with an initial $50 deposit to establish a Massachusetts 529 college savings account. The initiative, is a partnership between the Massachusetts State Treasury and the Massachusetts Educational Financing Authority (MEFA). It is open to every kindergarten student enrolled in the Worcester Public School System for the 2016-2017 school year, expanding to other communities across the state. For more information on enrollment and eligibility please visit www.seedma.org.

“MEFA is pleased to be a partner in this initiative with Treasurer Goldberg, her team and the City of Worcester, “ said Tom Graf, Executive Director of MEFA. “It is exciting to work with Worcester families on creating a plan for saving for college.”

“Financial planning is very difficult for many of our families,” said Worcester Mayor Joe Petty. “The $eedMA program is not just about saving for college but it’s about financial literacy. This program is about helping our families change the way they are thinking and talking about their financial futures.”

Treasurer Goldberg created the Office of Economic Empowerment (OEE), led by a deputy treasurer, with the deliberate goal of implementing a range of economic empowerment initiatives, including closing the gender wage gap, increasing access to financial education, improving college affordability, and investing in STEM careers and education.

For more information on $eedMA and the Office of Economic Empowerment please visit www.seedma.org.

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