Nearly 70,000 kindergarteners in New York City were the first in the nation to receive universal bonuses, reported on Wednesday Mayor Bill de Blasio.
Every kindergarten student in the five boroughs will have a 529 college savings account set up with a minimum of $ 100 as the city invests in its children’s future.
Starting this year, all kindergarten children enrolled in a public school will have access to the scholarship account. In addition to the $ 100 for their future education, they will be able to receive up to $ 200 in rewards.
The historic expansion of this program now reaches approximately 70,000 kindergarten students citywide, up from the more than 13,000 students already participating in the program in School District 30 in Queens, representing 95% of all students. kindergarten, first, second, and third grade students. The initiative was announced as part of the New York City Economic Justice Plan.
The mayor met with some of the benefited children on Wednesday.
“This is the first time this has been done on this scale anywhere in this nation,” said the mayor. “We need to take deep and fast action to combat inequality.”
New York Senator Michael Gianaris, who has been a strong advocate for programs that promote social equality, referred to bonds as “transformative” and a “sure path to success.”
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