A plan announced two years ago to give every Vermont baby at least $250 in a college savings account has stalled.
The program, which aimed to give $500 to children in low-income families, was modeled after a successful children's savings account program in Maine. But in Vermont, private donors have failed to come forward.
The Burlington Free Press reports that a sole donation — $25,000 — came from Ernie Boch, Jr., CEO of Subaru of New England and a friend of former Governor Peter Shumlin.
That will be enough to give about $2.77 to every baby born this year and $5.55 to every baby in a low-income household.
In New Hampshire, a plan to give $250 to second-graders who complete a financial literacy course has been put on hold.
Copyright 2017 The Associated Press. All rights reserved.
