Want to know more about our Back to School Campaign?

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WHAT: College Kids Back to School Fundraiser

WHEN: Sept 14-19

HOW: Visit our donation website next week.

Extra Credit: For one week only we will receive a dollar for dollar match for every donation up to $500. If College Kids has 25 new donors we will receive an extra $500!

 

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What is College Kids?

  • This fall, Treasurer Tishaura Jones is opening college savings accounts for all 3,500 kindergartners attending an St Louis City public or charter school. Each savings account will be seeded with $50.

  • Our incentive programs help families build their savings by rewarding perfect school attendance, adult financial education and early savings.

  • The program will grow with every entering kindergarten class. The goal is for every St. Louis student to be a College Kid.

 

What will my donation do?

Research shows that:

  • Just $500 in the bank means a low-income student is four times more likely to graduate from college.

  • Mentally designating savings for school leads to the formation of a "college saver identity" and indicates that the child has identified saving as a strategy to attain the future of college attendance.

  • The combination of children's savings accounts and financial education (financial capability) is believed to benefits to education and finances across the life course.

  • The Atlantic recently profiled a town that created a scholarship fund for every high school graduate. In a decade, the town went from a roughly 37% college attendance rate to a nearly 100% college attendance rate (including technical and community college.)

 

Who will my donation benefit?

College Kids begins with kindergartners entering the 2015-16 school year or later. Your donation will be in a protected account that will only be disbursed for qualifying educational expenses. We are particularly excited that our funds can help defray the costs of entering college, especially the fees that students incur before their scholarships are available.

 

Is my donation tax deductible?

Yes. Our partner, the 1:1 fund, is a 501c3 organization.

 

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For additional more questions, please e-mail Marina Balleria, Financial Empowerment Programs Coordinator,

balleriam@stlouis-mo.gov.

 

Cited research:

  • Assets and Education Initiative. (2013). Building Expectations, Delivering Results: Asset-Based Financial Aid and the Future of Higher Education. In W. Elliott (Ed.), Biannual report on the assets and education field. Lawrence, KS: Assets and Education Initiative (AEDI).
  • Elliott, W., Destin, M., & Friedline, T. (2011). Taking stock of ten years of research on the relationship between assets and children's educational outcomes: Implications for theory, policy, and intervention. Children and Youth Services Review, 33(11), 2312-2328.

  • Elliott, W. (2013). Small-dollar children’s savings accounts and children's college outcomes. Children and Youth Services Review, 35(3), 572-585.

 

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