Giving Compass' Take:

· In an effort to encourage saving from birth, Education Dive reports that more states are offering parents an initial invest in a college savings plan for their newborns. 

· Why are states encouraging saving for college from birth? 

· Here are ten things to know about college savings plans.

St. Paul, Minnesota, is starting the year in a similar fashion as Colorado. It is offering the families of newborns $50 toward a savings account run through the city's College Bound program, the Pioneer Press reported. And in Massachusetts, children born or adopted as of Jan. 1 were eligible to receive $50 toward a 529 college savings account. Through a similar program in Illinois, newborns will become eligible for $50 in college seed funding next year.

Although the amounts are small relative to the cost of attending college, these initiatives are a growing trend nationwide as cities and states offer families a cash incentive to start saving early for their children's college education.

Children from low- and moderate-income families with some money saved for college are more likely to attend and graduate, research has shown, and most states offer 529 savings plans. However, the programs are too new to test whether they're effective.

As with the latest programs in Massachusetts and Colorado, families must typically open a 529 college savings account within a limited timeframe in order for their children to access the funds.

Read the full article about college savings plans by Hallie Busta at Education Dive.