Virginia Newborns Get Early Start for College - NBC4 Washington

Virginia Newborns Get Early Start for College

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    Virginia Newborns Get Early Start for College

    The Virginia529 plan is giving 22 newborns a jump on paying for college. News4's Erika Gonzalez met one of those lucky newborns at an Alexandria hospital. (Published Thursday, May 29, 2014)

    The Virginia529 plan is giving 22 newborns a jump on paying for college.

    The state investment plan handed out college savings accounts valued at $529 Thursday, which is being celebrated nationally as 529 College Savings Day.

    It's the sixth year in a row for the program in Virginia.

    The accounts were given to one baby born closest to 5:29 p.m. Thursday at each of 22 participating hospitals statewide, including Inova Alexandria Hospital where Yusuf Shalizi was born at 6:09 p.m. -- a few weeks early, to his parents' surprise. 

    "That's my plan, for him to be well-educated and send him to a good college. Education is the only way in this country to be successful," proud dad Wahid Shalizi said.

    Virginia529 CEO Mary G. Morris says it’s a fun way to remind parents and grandparents to start saving now.

    Other incentives were offered, too. People who open Virginia529 inVEST accounts with at least $100 through Thursday will receive a $50 match from Virginia529. One person also will be awarded a $2,500 contribution toward a new or existing Virginia529 account.