Mayor Bill de Blasio and Education Chancellor Meisha Porter announced Thursday the citywide expansion of the Save for College Program, targeting all kindergarten students beginning in September 2021.
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In partnership with the nonprofit NYC Kids RISE, this free program will provide incoming kindergarten students with New York City scholarship accounts, including the first $ 100 credit on each account, opportunities to earn additional rewards, and access to community scholarships.
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NYC Kids RISE will create an account in each student’s name as long as it receives information from the DOE about each participating student and their parents or guardians, officials explain.
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NYC Kids RISE’s Save for College Program, a universal scholarship and savings platform designed to make college and career training more accessible and achievable for all New York public school students, aims to make college and career education more accessible and affordable for all New York public school students. Families can start saving and planning for college from their children’s first days of school.
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Since the Save for College Program began as a pilot in 2017, 96% of all first, second, third, and fourth graders, nearly 13,500 students now have a NYC Scholarship Account for their educational future.
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“Our children are not waiting for their future and neither are we,” stressed De Blasio on Twitter.
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With the Save for College Program:
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- Every child enrolled in kindergarten automatically receives a savings account.
- This account invests in a 529 plan with an initial deposit of $ 100.
- Parents have the option of opening their own account through the department of education’s online platform.
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Claves para entender NYC Kids Rise Save for College
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