Did you know that children with a savings account in their own name are six times more likely to go to college than children who don’t have an account?
Justin and Lauran Tuck along with The Citi Foundation, The Admiral Center and CFED hosted a private breakfast in support of Catalyst 2014. Our publisher, L. Londell McMillan, Esq. attended the event that took place in New York City yesterday morning. Presenters communicated a strong goal for Children’s Saving Accounts, (CSA’s) and introduced programs that can jumpstart children’s future from birth. The hour and a half long agenda included a plan of action and remarks from United States Senator Cory Booker, who voiced “The Need” for these types of programs. The team discussed New York and New Jersey students of lower income, and explained why they aren’t attending college, and what can we do as a nation to change these statistics. By just depositing $23 a month in a Children’s Savings Account, by the age of 18 a potential college student can accumulate $16,000, relieving the stress of debt and loans.
Certain counties and states have already implemented programs which provide children with accounts when they enter even kindergarden or even at birth. In Maine, every newborn is provided with a savings account with an initial contribution of $500, jumpstarting them for success.
Find out more information about setting our children up for the future by visitng 1to1fund.org