Building Block 2: Open A College & Career Savings Account

NYC Kids RISE manages your child’s NYC Scholarship Account (including contributions through Community Scholarships), and only NYC Kids RISE can put money into that account. Now that you have activated and viewed your child’s NYC Scholarship Account online, it is time to take the next step.
To start saving your own money for your child’s future and earn additional rewards from NYC Kids RISE, you will need to open a separate college and career savings account for the benefit of your child. Open and connect a college and career savings account now and NYC Kids RISE will invest another $25 in your child’s NYC Scholarship Account!
Keep reading below to learn about college and career savings account options available through the Save for College Program. For additional instructions on opening and connecting a college and career savings account, visit our downloadable resources page.
COLLEGE AND CAREER SAVINGS ACCOUNT OPTIONS
The Save for College Program allows you to connect one of two kinds of college and career savings accounts to your child’s NYC Scholarship Account to receive the $25 Building Block 2 reward:
NY 529 DIRECT PLAN ACCOUNT
Amalgamated Save for College Bank Account
Every family’s financial circumstances are different. Learn more about 529 accounts and bank savings accounts in general by reading below, and consider your own circumstances before opening an account.
529 Accounts vs. Traditional Savings Accounts
As you explore these college savings account options, we encourage you to become familiar with two main kinds of savings accounts: a 529 account and a bank account.
This information applies to the accounts you can link to your child’s scholarship account. It also applies to other 529 plans and bank accounts that you may find on your own.
Additional tools and resources
Ready to Move onto the Next Step?
Finished setting up your savings account? Click below to move to the next step in your Save for College Program journey.