CAS College Savers Launch
On October 1, 2013 the CAS College Savers program–a joint initiative of The Children’s Aid Society, the Citi Foundation, the 1:1 Fund, and Tuck’s R.U.S.H. for Literacy, to integrate college savings accounts into efforts to move children out of poverty and on a path to college–will launch. The program seeks to increase savings and other positive financial behaviors, while helping low-income children and their families view college as a real and attainable goal. Initial funding for CAS College Savers is being provided through a generous grant from Tuck’s R.U.S.H. for Literacy.
The CAS College Savers program provides specially designed savings accounts to participating Children’s Aid Society students from the Children’s Aid College Prep Charter School and African American Male Initiative. Students will receive a gift upon enrollment, as well as dollar-for-dollar matched contributions, bonuses for contributions via automatic bill pay and monthly raffles.
Children’s savings accounts of this type have been shown to be a meaningful intervention for high-needs, low-income families. They promote school success and college achievement at each developmental stage (early childhood, school age, and adolescence). They embed financial education into existing programming for students and their parents, and they create new pathways for families with limited means to begin saving for their child’s education.
Research shows when money is set aside for college, families save more, find creative ways to put aside funds even under difficult financial circumstances and view attending college as a more realistic possibility.
To support Justin and Lauran Tuck in this critical effort to promote college savings and access, please visit the 1:1 Fund.