LINCOLN - New legislation in Nebraska has been passed that will support the NEST529 College Savings Program.
LB 610, was signed earlier this week that promotes Nebraskans’ access to higher education through innovative college savings incentives.
Deputy State Treasurer Tyson Larsen tells News Talk WJAG, the first provision included in the bill is the Meadowlark Scholarship Program.
"Starting in 2020 every child born in the state of Nebraska will receive a 529 automatically. That's huge because we've seen the incentive for individuals that have 529's or some sort of college savings plan how much more likely they are to go to school. Not only did we want to give everyone a 529, but we wanted to fund it some way."
Larsen says in 10 to 15 years, every kid at birth could get $100 to $200 put into their 529 plan thanks to money raised and donated from the private sector.
Also included in the bill is the Employer Matching Contribution Incentive Program and the Low-Income Matching Scholarship Program.
For more information visit NEST529.Com.