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FitzGerald proposes college savings accounts

 
FitzGerald proposes college savings accounts
Posted Thursday, June 19th 2014 @ 4pm  by WTVN Newsroom

COLUMBUS, Ohio (WTVN) -- The Democrat running for Ohio governor wants to give every kindergarten student in Ohio $100 to start a college savings account.

"This is based on a program that we've implemented in Cuyahoga County," said Cuyahoga County Executive Ed FitzGerald.

The Cuyahoga County program costs about $3 million, according to FitzGerald. He estimates expanding it statewide would carry a $20 million annual price tag. FitzGerald didn't detail how he would pay for it, but said that with a $60 billion state budget it would get funded if it were a priority.

While the state would make the initial deposit, the hope is that parents would continue to add to the savings accounts which would gain interest.

"It sends a very powerful message to both the child and their parents that they need to be thinking about college affordability very, very early," he said.

He admitted it won't be a fix to the high costs of college, but it helps. FitzGerald added that he'd like to see cuts to higher education funding reversed.

"If Ed FitzGerald's track record in Cuyahoga County is any indication of how he would mismanage the state's higher education system, taxpayers and students beware!" said Ohio GOP spokesman Chris Schrimpf.  "FitzGerald called for nearly $200 million in new state spending on top of the $2.1 billion he's already proposed with no way to pay for it besides raising taxes."

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