Native CDFIs are instilling values of saving in our children and encouraging higher education to build stronger future generations.
Postsecondary education is the surest pathway to the middle class, but too many children exclude higher education from their dreams. The skyrocketing costs of higher education make college seem out of reach to many financially vulnerable families. Shrinking state investments in higher education have forced public institutions to raise tuition to make up the difference. Achieving the dream of higher education in the United States is increasingly becoming a “pay to play” proposition.
Less than 10% of low-income students finish college by their mid-twenties. But having dedicated college savings is proven to build low-income students’ aspirations for their future. In fact, low-income students with just $500 or lest in college savings are four times more likely to graduate from college. To ensure every kid has the chance to reach their college dreams, policymakers should move forward with creating universal Children’s Savings Account programs.
Children’s savings accounts help students see college as a realistic part of their future. By expanding access to these transformational accounts, we can empower even more kids to reach their college dreams.
Kindergarten Student Begins Saving for College
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