Here! Have Some Government! St. Paul College Savings Boondoggle
The City of St. Paul will have a new college savings program! St. Paul, established and funded by our legislature, has a new pilot program to “create a college savings account for every child born to a resident of the city of St. Paul.”
This pilot program is actually setting up a “potential establishment of a statewide program or program duplication by other cities…” “The city is the owner of the account, but the beneficiary must be the individual child.”
Consequently, the tax payers of Minnesota are”giving” every new baby born in St. Paul and during funding time period a funded personal account. Every new baby within every economic level. What strings will come with this government program? Health requirements? Education requirements?
Happy Birthday, St. Paul!!!
Legislative language for St. Paul College Savings program. Final.