The Virginia529 College Savings Plan is awarding $529 accounts to 20 babies born May 29, 2013. The initiative is part of 529 College Savings Day, a national campaign to raise awareness about the importance of saving for higher education through tax-advantaged 529 plans.
An estimated 300 babies will be born in Virginia Wednesday. The 20 lucky enough to be born closest to 5:29 p.m. at participating hospitals will start off their new lives with Virginia529 college savings accounts valued at $529.
To raise awareness about the importance of saving for higher education through tax-advantaged 529 plans, Virginia529 College Savings Plan is celebrating May 29 National 529 College Savings Day by, among other special events, awarding Virginia529 inVEST accounts to this group of 529 Day babies.
"According to a recent survey, 88 percent of parents believe it is important for their children's future to attend college," said Mary G. Morris, CEO of Virginia529. "Yet, most are not regularly saving for higher education costs. There's a disconnect between the value of education and the reality of covering the costs. Virginia529's mission is to help families find ways to make college more affordable and accessible."
To focus families on the importance of starting early to save for future higher education costs, Virginia529 and hospitals across the Commonwealth are partnering in the 529 Day baby contest. Participating hospitals, where babies born on May 29, 2013 are eligible for the giveaway, include:
Centra Southside Community Hospital, Farmville
Clinch Valley Medical Center, Richlands
Fauquier Hospital, Warrenton
Henrico Doctors' Hospital, Richmond
Inova Alexandria Hospital, Alexandria
Inova Fair Oaks Hospital, Fairfax
Johnston Memorial Hospital, Abingdon
Martha Jefferson Hospital, Charlottesville
Norton Community Hospital, Norton
RMH Healthcare, Harrisonburg
Sentara Leigh Hospital, Norfolk
Sentara Norfolk General Hospital, Norfolk
Sentara Northern Virginia Medical Center, Woodbridge
Sentara Obici Hospital, Suffolk
Sentara Princess Anne Hospital, Virginia Beach
Sentara Williamsburg Regional Medical Center, Williamsburg
Southampton Memorial Hospital, Franklin
VCU Health Systems, Richmond
Warren Memorial Hospital, Front Royal
Winchester Medical Center, Winchester