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County in Ohio Will Abandon College Savings Effort

May 21, 2015
 

Many experts on paying for college say it's essential to encourage families to start saving while their children are young. But Cuyahoga County, in Ohio, is moving to abandon a two-year-old program under which every kindergarten student received a $100 savings account, Northeast Ohio Media Group reported. Officials said too few families added to the accounts, so many felt the program wasn't working.

In San Francisco, where a similar program is based on a match of family contributions, CNN Money reported that low-income families have saved $1 million for college in the last four years.

 
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