You just have to keep it in the bank so that it can grow. And if you leave all of that in the bank for just one more year, the bank will give you another seventy-five cents plus two and a half more cents besides. That's called compound interest. It will help you go to college. The main flaw in such saving schemes is that there's nothing in them for the kids.
College is a thousand years away, and they probably think they'd just as soon stay home anyway.
Indeed, the true purpose of such plans is usually not to promote saving but to prevent consumption. Not surprisingly, kids quickly decide that large sums aren't real money and that all cash should either be spent immediately or hidden in a drawer. To avoid this problem with my two children, I started my own bank. It's called the First National Bank of Dave. I set up an account for each child, using the same computer program I use to keep track of my checkbook.