NYC Kids RISE is a nonprofit organization working to expand economic opportunity and equity by providing families, schools, and communities with a way to work together to save for their children’s education. NYC Kids RISE manages the NYC Kids RISE Save for College Program as a public-private-community partnership with the NYC Department of Education (DOE) and the City of New York. The Save for College Program is a universal scholarship and savings program designed to make college and career training more accessible and achievable for all NYC public school students—regardless of their family’s income or immigration status. The Save for College Program is a tool that families, along with their schools and neighbors, can use and customize in the way that best fits into their lives and best supports their dreams for their children.
The Save for College Program launched a three-cohort pilot phase in School District 30 in Fall 2017. Now in its third school year, the Save for College Program has so far enrolled more than 10,000 kindergarten, first-grade, and second-grade students (around 95% of all the students in those grades across District 30) and opened an NYC Scholarship Account invested in a 529 plan with an $100 initial deposit for each one. Their families can view this account online, open their own college savings account, and start saving their own money in the ways and amounts that make sense for their financial circumstances, earning additional scholarship rewards. At the same time, their communities can contribute to groups of these NYC Scholarship Accounts to further increase the savings in each child’s account and demonstrate their community’s support for every child’s success. Together, these two accounts enable families, friends, schools, communities, and larger institutions and systems to work together to build assets and support expectations for each child’s future.
NYC Kids RISE is driven by the belief that every NYC public school child should have a real financial asset for higher education, starting in kindergarten, and support from every part of their community to achieve educational and economic success. Based on the successes of the pilot phase, NYC Kids RISE is currently working with its public, private, and community partners to prepare to expand the Save for College Program beyond School District 30 to other NYC school districts. The ultimate vision is to create a universal, community-driven wealth-building platform--embedded in homes, schools, and neighborhoods--across all 32 school districts in the NYC public school system. This approach draws from a variety of best practices and disciplines across the fields of asset building, child savings accounts, financial empowerment, education, community wealth building, urban poverty, neighborhood effects and social capital research, collective impact, and more.
Learn more about NYC Kids RISE and the Save for College Program at nyckidsrise.org.
NYC Kids Rise is an Equal Opportunity Employer. We do not discriminate in employment on the basis of basis of gender, religion, race, creed, color, national origin, citizenship status, age, disability, marital status, caregiver status, sexual orientation, gender identity or expression, military status, unemployed status, or any other characteristic protected by law.
NYC Kids RISE is a nonprofit organization working to expand economic opportunity and equity by providing families, schools, and communities with a way to work together to save for their children’s education. NYC Kids RISE manages the NYC…