Account Features & Policies

What type of account is the College Kids account?



The CK account is a deposit-only savings account that is restricted for post-secondary educational use. College Kids accounts are custodial accounts owned by the City of St. Louis under its tax ID number, for the benefit of your child. Your child is named as the beneficiary of his/her account.

How does the City own the account if I'm depositing my own money into it?



The City Treasurer is the custodian on the account and your child is the beneficiary. The account can only be used for the benefit of your child and cannot be used by the Treasurer’s Office for other purposes.

Funds cannot be accessed without approval from the College Kids Program. There are limited circumstances when your child will be able to withdraw funds for non-qualified expenses. In these rare situations, you will only have access to the funds you or others contributed to the account.

Do I need to take any steps to open my child's account?



You do not need to take any steps to open your child’s account. All accounts for the benefit of incoming students are automatically opened by the City of St. Louis Treasurer’s Office. Once you receive your student’s account identification card and account number in the mail, you can start contributing to the account.

Can I send part of my tax refund into my child's College Kids account?



Yes! Tax refunds are a great opportunity to make an extra contribution into your account. You can deposit any portion directly into your College Kids account. Bring your student’s account number and the 1st Financial Federal Credit Union routing number 281080739 with you when you prepare your taxes.

Why can't I withdraw the money in my College Kids account at any time?



The College Kids account exists to help make college a possibility for every student. As a result, contributions are bound to that purpose and funds are distributed only when a child enters postsecondary education. Only under special circumstances and the approval of College Kids staff, will money be released for non qualifying expenses.

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