BOSTON – The State Treasurer’s Office of Economic Empowerment (OEE) announced the BabySteps Forum for Families virtual event for November 1st at 12:30 p.m. This event is to increase awareness about the BabySteps Savings Plan, Treasurer Deborah B. Goldberg’s initiative that encourages parents of newborns and adopted children to plan for their children’s future education and training expenses.
Joining the Treasurer will be U.S. State Senator Ed Markey of Massachusetts and Massachusetts Educational Financing Authority (MEFA) Executive Director Tom Graf, who will kick off the event with special remarks. OEE and MEFA will be sharing information on how families can start saving for their children’s future. Families will have the opportunity to have their questions answered about the BabySteps Savings Plan by experts from both of these organizations.
This hour-long virtual event is free and open to anyone. Register by visiting https://bit.ly/BabyStepsForum.
“The BabySteps Savings Plan is a critical financial tool for families to effectively save for their children’s future education,” said State Treasurer Deborah B. Goldberg. “This forum will be an opportunity to ask questions about the program and encourage thoughtful planning for higher education and vocational training for kids across Massachusetts.”
“Access to higher education should be attainable for everyone. The BabySteps Savings Plan is designed to help families start saving early in preparation of their children’s future,” said U.S. State Senator Ed Markey of Massachusetts. “I am excited to share the details of this program with Massachusetts families.”
“We’ve found that children with college savings accounts may be more likely to enroll in college,” said MEFA Executive Director Tom Graf. “It’s important that we do all we can to encourage families to save for college early and often, and the BabySteps Savings Plan helps families do just that.”
Since 2020, the BabySteps Savings Plan has encouraged Massachusetts families to open a MEFA U.Fund 529 account, to start saving for their children’s college, technical or vocational education. Families who open an account within one year of their child’s birth or adoption are eligible to receive a free $50 seed deposit.
Massachusetts families can learn more about the BabySteps Savings Plan by visiting mass.gov/babysteps.
About the Office of Economic Empowerment
Treasurer Goldberg created the Office of Economic Empowerment, led by a deputy treasurer, with the deliberate goal of implementing a range of economic empowerment initiatives that include closing the race and gender wage gap, addressing racial equity, increasing access to financial education, improving college affordability, and investing in STEM careers and education.
MEFA is a Massachusetts state authority, not reliant on state or federal appropriations, established under Massachusetts General Laws, Chapter 15C. MEFA’s mission, since its founding in 1982, has been to help Massachusetts students and families access and afford higher education and reach financial goals through education programs, tax-advantaged savings plans, low-cost loans, and expert guidance. All of MEFA’s work aligns with the ever-present goal to support the independence, growth, and success of Massachusetts students and families. Visit mefa.org to learn more or follow MEFA on Twitter @mefatweets, on Facebook at mefaMA, and on Instagram at @mefa_ma.
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