State Treasurer Visits Delaware County Community College to Announce New Tuition Savings Program

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State Treasurer Joe Torsella announces the Keystone Scholars program at Delaware County Community College.

 

State Treasurer Joe Torsella visited Delaware County Community College last week to announce a new program, Keystone Scholars, which invests $100 for each child born, or adopted, in 2018 and 2019 to help their families pay for the costs of higher education.

The program is designed to encourage Pennsylvania families to start thinking about saving for college early and often so that money is set aside once a newborn reaches college age.

“Since the Great Recession, 95 percent of new jobs went to people with some form of education beyond high school,” Torsella said. “If we want future generations to learn here and stay here, we’ve got to invest in them.”

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According to a study by the Center for Social Development at Washington University in Saint Louis, a baby with a higher education savings account at birth is three times more likely to pursue education or training after high school and four times more likely to graduate.

Funding for Keystone Scholars comes from philanthropic donations. Delaware County is one of six Pennsylvania counties chosen for this pilot program. The other counties participating include Elk, Indiana, Luzerne, Mifflin, and Westmoreland.

Families have until a baby’s first birthday to claim their $100 Keystone Savings investment. Eligibility for the $100 is based on the baby’s county of residency. To be eligible, families can go online here and complete a registration, or call 1-800-440-4000.

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