Your Family is Eligible for the Savings Match
Dear Save for College Program Family,
Congratulations! You made your first deposit into your own college savings account and earned a reward of $25!
To log back in and check your balance, click here to visit Savings Tracker.
Keep reading below for more information on how to continue earning more scholarship rewards for your child’s account.
Your Save for College Program Journey
Congratulations on completing all three Building Blocks! You have activated and viewed your child’s NYC Scholarship Account on the Savings Tracker, opened and connected your own college savings account, and made a deposit into your connected college savings account.
We call these the 3 Building Blocks because they are the foundation of a long-term partnership we are building with your family, your child’s school, and your community to save together for your child’s future.
What’s Next? The Savings Match
- For the next $100 your family saves after opening and connecting your own college savings account, we’ll save $100 too! 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.
- That means that when you make a deposit to your connected college savings account, NYC Kids RISE will deposit the same amount to your child’s NYC Scholarship Account within a few days. Each child can earn up to $100 in Savings Match rewards.
- If you have already started saving in your connected college savings account, log back in to Savings Tracker to see how much of the Savings Match you have already received!
Here’s How to Access the Savings Match
Saving as little as $1 per month between your child’s first day of 1st grade and the last day of 5th grade will get you the full match! Here’s how to get started…
If you have an NY 529 Direct Plan Account:
- Log back on to Savings Tracker and then click on the 529 Account tab under “Your College Savings Accounts”. Then, click on “Manage 529 Account”.
- Log in to your account at nysaves.org and click “Contribute”.
- Follow the instructions to make another deposit from your linked checking account.
- To deposit a check or money order, complete this form and mail it with your check to New York’s 529 College Savings Program Direct Plan, P.O. Box 55440, Boston, MA 02205-8323
If you have an Amalgamated Save for College Bank Account:
- You can make a deposit by writing a check, depositing a money order, or via electronic transfer, including money transfer apps. For more information and support, contact Michael Ippolito at [email protected]
Questions or Concerns
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 / Bangla: Lamia Aesha
- English / Spanish: Arli Cornejal