The St. Louis Treasurer’s Office recognizes that in order for their current kindergartners to be
competitive in the workforce as adults and earn sustainable living wages for themselves and their families, they must have the opportunity to obtain a postsecondary education.
Refusing to accept that only 10% of low income students nationally are expected to receive a
college education, the College Kids savings account program utilizes groundbreaking research and innovative financial capacity building initiatives in order to provide the universal hope and expectation that the children of St. Louis will earn a college education.
The College Kids children’s savings account program provides every child entering kindergarten in a public school in the city of St. Louis a college savings account. The accounts are seeded with $50 by the Treasurer’s office to help families jumpstart saving for college. Families have opportunity to save more through matches and incentives such as perfect attendance, matched savings, and participation in financial education courses either in person, online, or via a smartphone app.
This case study was shared at the 2015 AFN Grantmaker Conference, which included both regional and community-based funders and thought leaders concerned about a common goal – providing individuals, families and communities with greater economic security and opportunities for growth. View all 2015 AFN Grantmaker Conference resources.
Resources Sponsors
The case study was sponsored by Ameren UE, BMO Harris Bank, Eagle Bank, Midwest BankCentre, People’s Community Action Corporation, Scottrade Bank, and Wells Fargo. It was developed in partnership with City of St. Louis Treasury and Operation HOPE.
The 2015 Grantmaker Conference was sponsored by the following: The Kresge Foundation, The Annie E. Casey Foundation, MetLife Foundation, Citi Foundation, JPMorgan Chase and Company, Thomas Family Foundation, W.K. Kellogg Foundation.
