Every Illinois Child Born Or Adopted In 2021 Will Get $50

From diapers to a college education the cost of raising a child is expensive.  For many parents, trying to put money away for their child's future can be difficult.  The state of Illinois wants to help.

Starting January 1st of 2021, every child born or adopted in Illinois will receive $50 deposited into a college savings account or 529 plan according to WQAD.

You might think $50 won't make a huge difference when it comes to funding an education, but it's there as a reminder to parents every dollar can go a long way. Now if the child doesn't use the money by the time he or she is 26, they the money goes back to the state for other students.

Psychologically, it's a great thing for parents and students. It promotes the idea of continuing their education after high school. Students will focus more on how to continue to learn if they know the money is there for whatever they decide.

Do you think it's a good idea or just another feel-good bill that won't make a difference?