Good News: College fund help for Tax Day baby

SAVANNAH, GA (WTOC) - It's never too early to start saving for college.

On Tax Day, a Savannah family is already able to set aside more than $1,500 for their newborn baby, thanks to Georgia's Path-2-College.

It wasn't your typical visitor for this new mom at Memorial Health. Within hours of delivering a baby boy, she was surprised with a $1,500 check. Money that will be used to start her baby's college savings account.

"It was unexpected. He was not expected for another month," Nay'quaria Kay said.

Baby Aiden arrived early but he was just in time for Tax Day. This is the fifth year Memorial Health and Georgia's Path-2-College have partnered to recognize the first "Tax Day Baby" born at the hospital.

"You know having people come to you within 12 hours of having a baby and being told you have $1,529 contributed to a college savings account for your child to start their college savings and it's very heartwarming, too," said Mitch Seabaugh, the executive director of the Path-2-College 529 plan.

The Path-2-College 529 plan is operated by Georgia's Treasury Department, giving all Georgian's an opportunity to set up a college savings account for their children.

"It is the only 529 plan that Georgia residents can get a state income tax deduction for putting money into the savings account and when it's time for the money to be spent, it comes out state and federal tax-free," Seabough said.

For most people, Tax Day comes with a heavy burden. But hopefully, for this new family, this day will forever be celebrated as Aiden's birthday and a reminder that there will be no financial burden down the road.

"Just thank you. Won't have to work as many jobs and kick out so much money to put into his college funds," Kay said.

For more information on Path 2 College 529 plan and creating a saving's account for your child, please click here.

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