NYC public school kids have the option to save for college as early as kindergarten


Mayor Adams shows that those who participate in the scholarship program have 4 times more opportunities to graduate from college.

Photo: NYC Kids Rise/Courtesy

Now him 97% of kindergarten children in the entire cityregardless of their family income or immigration status, have access to a scholarship account of the City of New York that allows you to save very early for the university and professional education.

All families can activate their children’s accounts if they are enrolled in kindergarten through the NYC Kids RISE Save for College Program. that invests only this year a total of $6.5 million in the 65,300 New York City scholarship accounts,

“Those who have access to this savings program have three times more likely to enter university. This is equal opportunity. We are expanding the possibilities for thousands of children and their families, from the most vulnerable sectors, to think about the future,” Mayor Eric Adams said this Friday, from Baychester Academy in the Bronxcelebrating the expansion of this program that emerged as a private initiative in 2017, in several schools in Queens.

Beginning this May, schools across the city kicked off the first New York City Scholarship Month, organizing activities to help families to complete and clear up any doubts about this fundamental first step.

Through the Save for College program, it is sought that all kindergarten children in public schools in the Big Apple graduate from high school with a financial asset for the university.

College was way off the radar for many families. But now we’re telling them to get ready to go to college or school to learn a trade. This is a great time for our city as we expand this incredible program.”

During the last five years, more than 13,500 first, second, third and fourth grade students in the 39 schools that participated in the pilot program, have accumulated more than $7 million in assets financial.

save for the future

Starting this school year, kindergarten students enrolled in a New York City public campus, including charter schools, automatically receive a scholarship account invested in a NY 529 Direct Plan, with an initial $100 from NYC Kids RISEunless their families choose not to participate.

Through the program, families can receive up to $200 in additional rewards for your child’s scholarship account by taking basic steps, like opening and connecting a separate college savings account and starting to save in whatever ways and amounts you can.

By combining seed grants, family savings, community investments, and funding streams from all levels, this program can generate significant assets to students and communities.

Research suggests that kids with a college savings account of just $1 to $500 are three times more likely to go to college and four times more likely to graduate.

All families with kindergarten students enrolled in a New York City public school (including participating charter schools) are eligible to participate in the Save for College Program, regardless of income or migratory state.

  • What if my child is eligible?

If eligible, your child will automatically be enrolled in the Save for College program, unless you choose not to participate by “opting out”. By joining the Save for College program you can activate and view the free NYC scholarship account with the initial investment of $100.

Once you activate the NYC scholarship account, you can complete other Building Blocks for additional rewards. If you decide not to participate, you may contact your child’s school for instructions. about how to opt out. The exclusion period runs continuously beginning in the fall.

Look for detailed information:

For details on how to join this student savings plan visit: nyckidsrise.org or www.schools.nyc.gov

Source-eldiariony.com