Use Your Tax Refund to Save for College
Through a partnership with your school, your family is one of over 13,000 families across School District 30 who are enrolled in the Save for College Program.
That’s almost every 1st-4th grade student in School District 30 who has an NYC Scholarship Account with an initial deposit of $100. We are saving for college together!
Your Save for College Program Journey
You have completed all three Building Blocks and are on your way to saving for your child’s college and career training! Keep reading for tips on how to increase your college savings.
Use your tax refund to save for higher education
Expecting a tax refund this year? Consider putting some of it aside for your child’s college and career training future! When you prepare your taxes, you can split part of your refund into your NY 529 Direct Plan account or Amalgamated Save for College Bank Account – all you need is your account number and routing number.
Get free tax preparation help
Depending on how much you earned in 2021, you can get help to file your taxes for free. Call 311 and ask for Tax Preparation Assistance or click here to verify eligibility and access services. There are Free Tax Prep (VITA) Sites located around Community School District 30, including at Save for College Program Partner Urban Upbound in Long Island City / Astoria, and virtual options as well.
At your appointment make sure and ask your tax preparer to help you split your refund to your college savings account!
Split your tax refund can also help you access the Savings Match
Starting on your child’s first day of first grade, and ending on your child’s last day of fifth grade, NYC Kids RISE will match the money that you deposit into your own college savings account dollar-for-dollar, up to a maximum of $100. By splitting your tax refund, you can earn even more money for your child’s NYC Scholarship Account!
NYC Kids RISE has already deposited a total of $110,464 in additional scholarship rewards to the NYC Scholarship Accounts of families who have accessed the Savings Match. Join them and double the next $100 you save!
Get Answers to Your Questions
Not sure how much or how often to save?
A Financial Empowerment Center is a free resource where every New Yorker can go for objective confidential financial help. They have trained financial counselors who can answer more detailed questions about your financial situation. They can help you to make a budget, pay down your debt, see your credit report, and they even can serve as a resource for financial aid and student loans. They will help you determine how much you can save and when to save for your child’s educational future, based on your overall financial situation.
To make an appointment for this free resource, click here.
Other questions about the Save for College Program?
- Call the NYC Kids RISE hotline at (833) 543-7473 or email us at [email protected]
- Make an appointment with the NYC Kids RISE team for 1:1 support: English/Español: Sebastian Cruz
The NYC Kids RISE Save for College Program is a scholarship and savings program administered by NYC Kids RISE, Inc., a nonprofit, in partnership with the NYC Department of Education and the City of New York. NYC Kids RISE is neither affiliated with, nor an authorized distributor of, New York’s 529 College Savings Program and does not solicit investments or provide investment advice. The City of New York and the NYC Department of Education offer no endorsement or recommendation about, and do not control own or are affiliated with the program manager for New York’s 529 College Savings Program and any particular college savings or other investment vehicle, including ones which families may learn about through the Save for College Program.
The NYC Kids RISE Save for College Program provides families, schools, and communities with a way to work together to save for their children’s futures. It’s a scholarship and savings program designed to make college more accessible and achievable for all NYC public school students—regardless of their family’s income or immigration status. The Save for College Program is a tool that families, along with their schools and neighbors, can use and customize in the way that best fits into their lives and best supports their dreams for their children. NYC Kids RISE, a nonprofit organization, manages the Save for College Program in partnership with the NYC Department of Education and the City of New York.