More cities and states are paying into children's college savings plans

Starting Jan. 1, children born or adopted in Colorado through at least 2040 will be eligible to receive $100 in their 529 college savings account, The Colorado Sun reported. The state-run nonprofit college savings program, CollegeInvest, hopes to encourage more families to use the tax-advantaged accounts to save for their children's postsecondary education. Efforts like Colorado's, called First Step, are underway in cities and states nationwide as government leaders address concerns about college affordability. But participation in these still-new programs vary widely.

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