BOISE - New parents at Saint Alphonsus hospital got a surprise early start on their child's college education fund.
On Sunday, baby Esmira received $529 in a college savings account, thanks to the IDeal program.
The family was chosen to receive the scholarship because their child was the first baby born at the hospital on 529 College Savings Day - May 29, or 5/29. 529 is the tax code for college savings plans.
In addition to the family at Saint Alphonsus, four other families across the state were awarded the scholarship.
“When a child is born, families naturally spend a lot of time thinking about their hopes for their child’s future, and those dreams often include higher education," said Christine Stoll, IDeal executive director, in a statement. "By setting aside money for a child from day one, families can start to chip away at that important investment in the child’s future.”
IDeal accounts can be opened for anyone by any family member, friend or loved one. To find out more about the college savings program, click here.