Building Block 3: Make Your First Deposit

Once you have opened a college and career savings account for the benefit of your child and connected it to your child’s NYC Scholarship Account, you’re ready to make a deposit with the Save for College Program.

Saving for college and career is an important piece of a family’s overall financial plan—but it’s not the only part. The amount of money that makes sense to save for college and career is different for every family. The good news is that no amount is too large or too small when you make a deposit early! Starting to save when your child is young can make a big difference by the time your kindergartner is ready for college.

Deposit at least $5 into your connected college and career savings account and NYC Kids RISE will invest another $25 in your child’s NYC Scholarship Account!

Remember, this is just the beginning of our long-term partnership to save together for your child’s future. The most important part is getting started.

• For more information on making deposits, check out the Making Your First Deposit (Building Block 3) section of our downloadable resources page. 
• For savings tips, check out the Save Regularly section of our downloadable resources page.
• For free, one-on-one support with fitting savings into your overall financial plan, consider visiting one of the NYC Financial Empowerment Centers located throughout the city. At the Financial Empowerment Centers, you can meet one-on-one with a professional financial counselor who can help you tackle debt, improve your credit, create a budget, open a bank account and more. You can also get information about saving for your child’s future and plan to make a deposit into a college and career savings account for the benefit of your child.

To schedule an appointment at a Financial Empowerment Center near you, call 311 or visit the 311 website.