More than 70,000 Bronx public school students now have an NYC Scholarship Account with $100 already tucked inside, part of the city’s Save for College program, officials said. The money is invested through a NY 529 Direct Plan to start building early savings for future college or career training. Families have to activate the accounts online to see balances and unlock extra rewards.
How the Save for College program works
The Save for College Program started as a pilot and is now available citywide for kindergarteners beginning with the 2021–22 school year. Eligible students in kindergarten through fourth grade are automatically enrolled, and each gets an account seeded with $100. As outlined by NYC Public Schools, families have a limited window to opt out, and they are not required to contribute any of their own money to receive the account.
Parents must activate to see the money
At a Bronx Scholarship Month event, Dr. Meisha Porter urged families to take the key step of activating their children’s accounts, saying, “You can go online and activate it yourself but in our schools, our parents coordinators are ready to help parents make that happen,” as reported by News 12 The Bronx. Schools and local parent coordinators have been holding workshops and offering one-to-one support to walk families through activation and help them connect additional savings or community scholarships to the accounts.
Bronx totals and local investment
In the Bronx, more than 70,000 students now hold accounts with roughly $10 to $11 million set aside for future college and career training, according to local reporting. “Knowing that there’s money there and that other donors are going to invest in our students just creates a sense of possibility among them,” Principal Luis Quan told News 12 The Bronx, reflecting organizers’ efforts to make the program visible in classrooms.
Citywide reach
Program officials say the Save for College effort now reaches more than 340,000 students across New York City, with more than $57 million invested in NYC Scholarship Accounts. As detailed by NYC Kids RISE, families can earn up to $175 in additional rewards by activating accounts, opening a connected savings account, and starting to save.
How families can activate
Parents and guardians can activate and view their child’s NYC Scholarship Account through their school’s outreach events, at workshops, or by using the program’s online tools. Parent coordinators at schools are typically available to walk families through each step. For full details on eligibility, opt-out periods, and what to do next, visit the NYC Public Schools program page.
