Students in West Virginia now have a chance to earn thousands of dollars for college, several years before they even apply.

It's part of the state's SMART529 College Savings Program from the treasurer's office. That office announced Tuesday that students from Kindergarten to fifth grade can compete in an essay contest called "When I Grow Up." The grand prize is a $5,000 college savings account.

Fifteen regional winners around the state will also get $500. State Treasurer John Purdue says that every little bit helps, especially while the students are young.

"It's not going to get any cheaper," says Purdue. "Going to college continues to rise every year, so we have to make a difference in West Virginia. We have got to start encouraging parents and grandparents to start saving from the time their kids are born, especially when they get into Kindergarten and first grade."

SMART529 is the state's college savings program, allowing people to prepay their children's college tuition.