New CSA Programs Launch in 2020

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Spotlight Story Six Things You Should Know About NYC Kids RISE

The NYC Kids RISE Save for College Program [[link removed]] is paving the way for new opportunities, and aims to make attending and graduating from college accessible for New York City public school students. In partnership with the New York Department of Education, and the City of New York, the program seeks to expand on the college dreams and expectations of families across the city by prioritizing equity, empowering communities, and focusing on college savings for all New York city public school students.

On January 29, students, families and city officials came together at P.S. 148 to celebrate the third cohort of public school students in the NYC Kids RISE Save for College Program. [[link removed]] The program has enrolled over 10,000 students from 39 schools throughout western Queens. Read more. [[link removed]]

School Chancellor Richard Carranza joined the P.S. 148 community, School District 30 Community Superintendent Dr. Philip A. Composto, Council Members Daniel Dromm, Francisco Moya and Jimmy Van Bramer, and others to celebrate the new cohort of NYC Kids RISE participants.

In the NewsMayor Schor Highlights Lansing SAVE in State of the City Address

Mayor Andy Schor gave his third annual state of the city address for the city of Lansing on Wednesday, February 5. During his address, Mayor Schor announced the creation of BOLD Lansing [[link removed]] a program that will bring together economic mobility and college-bound resources and services to support student success. Families will be able to learn about Lansing's CSA program, Lansing SAVE [[link removed]], get assistance in applying for financial aid for college, and get connected to financial counseling.

Expansion of CSA Field Attracts National Attention

Last month, Education Dive published an article [[link removed]] highlighting the launch of several new CSA programs, including: College Bound Saint Paul [[link removed]]; Colorado’s First Step program [[link removed]]; and Massachusetts BabySteps programs [[link removed]]. The article referred to these programs as part of a “growing trend nationwide as cities and states offer families a cash incentive to start saving early for their children’s college education.”

From the FieldSaint Paul Marks the Start of the Decade with a New CSA Program

In the early hours of New Year’s Day, the city of Saint Paul, MN welcomed its newest resident, Hanna Heggeseth, at Regions Hospital [[link removed]]. Hanna and her parents were soon greeted by Mayor Melvin Carter who congratulated them on being the first family enrolled in the city’s brand-new CSA program, CollegeBound Saint Paul [[link removed]]. The launch of the program ushers in a new era for the city which supports families in saving for their children’s futures. This program also boasts the ability to help St. Paul’s children get a head start toward college and beyond. Read full blog [[link removed]].

Massachusetts Kicks Off 2020 with the BabySteps Savings Program

On January 1, State Treasurer Deborah Goldberg announced the launch of Massachusetts’ statewide CSA program [[link removed]]. The Baby Steps Savings Program [[link removed]] provides every child born or adopted in Massachusetts with a $50 seed deposit when a family member opens a 529 account. After the completion of two successful seed pilot programs, SEED MA and SOAR MA, the Treasurer’s Office hopes the Baby Steps program will increase the percentage of families saving for higher education in Massachusetts. The program will also seek to boost postsecondary enrollment and graduation rates for all students by developing a culture centered around college aspirations. The program will offer additional financial education services to families across the state.

MAPS Education Foundation Launches the 1st to Finish Savings Program

Last month, the Marquette Area Public Schools Education Foundation launched the 1st to Finish Savings program to address increasing student loan debt in Michigan [[link removed]]. The program will serve 225 first grade students from five Marquette area elementary schools and provide an initial $50 deposit into each student’s account. The funds will be available to students who graduate high school and pursue post-secondary education, as well as students who are interested in apprenticeship programs or starting their own business.

Colorado Launches Statewide CSA Program

On January 1, Colorado launched the First Step [[link removed]] program, an at-birth, statewide CSA program. The program will provide a $100 initial deposit for every child born or adopted in Colorado between January 1, 2020 and January 1, 2040 [[link removed]] whose parents open a 529 to claim the money by age five. The program is the result of the Child College Savings Accounts [[link removed]] bill passed by the state legislature in 2019. CollegeInvest [[link removed]], the nonprofit division of the Colorado Department of Higher Education, will operate the program.

Upcoming and Past Webinars

Investing in the Future of Our Community: A Case Study on Funders’ Motivation for Supporting Children’s Savings Accounts ( recording [[link removed]] and slides [[link removed]]) | Asset Funders Network | January 8

Resources and Publications

Investing in the Future of Our Community: A Case Study on Funders’ Motivations for Supporting Children’s Savings Accounts [[link removed]] | Asset Funders Network | December 2019

Roadmap to College Resource Guide [[link removed]] | San Francisco Kindergarten to College | January 2020

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