Earn the Savings Match!
Double your child’s college and career savings! For the next $100 your family saves, we’ll save $100 for your child too.
Starting on your child’s first day of first grade, NYC Kids RISE will match the money that you deposit into your own college and career savings account, up to a maximum of $100. This means that when you make a deposit into your connected college and career savings account, NYC Kids RISE will put the same amount toward your child’s NYC Scholarship Account. For example, if you deposit $20 in your connected account on the first day of first grade, NYC Kids RISE will deposit $20 into your child’s NYC Scholarship Account!
Savings Match Q&A
For every dollar your family deposits into your connected college savings account up to the first $100, NYC Kids RISE will allocate a dollar toward your child’s NYC Scholarship Account. As long as you have connected your college and career savings account to your child’s NYC Scholarship Account (Building Block 2), NYC Kids RISE can track your family’s deposits and automatically match them. Each eligible child can receive up to $100 in Savings Match rewards.
This Savings Match opportunity starts when your participating child is in first grade. You must complete the 3 Building Blocks to be eligible for the Savings Match.
Thanks to the Gray Foundation, students in third grade and higher who enrolled in the Program while attending one of the 39 pilot schools in geographic District 30 can still receive rewards for completing the 3 Building Blocks and the Savings Match until the last day of eighth grade.
At this time, students who started kindergarten in school year 2021-2022 or first grade in school year 2022-2023 can complete the 3 Building Blocks and receive the full Savings Match until their child’s last day of fifth grade.
To see the allocations NYC Kids RISE has made toward your child’s NYC Scholarship Account, log back into Savings Tracker here.
Every family’s situation is different. College and career savings are one important piece of a family’s overall financial plan. Deciding how much to save for college or career training depends on your individual financial circumstances, including your income, assets, debt, regular expenses, public benefits, and credit. NYC Kids RISE encourages every family to start contributing to their own college and career savings account in whatever amount makes sense for them. Getting started while your child is young can make a big difference, regardless of the amount. Check out the Savings Tips Handout on our downloadable resources webpage for some quick ideas on ways to save.
- For savings tips, check out the Save Regularly section of our downloadable resources page.
- For free, one-on-one support on how to make college and career savings part of your financial plan, schedule a free appointment with a financial counselor at an NYC Financial Empowerment Center. NYC Financial Empowerment Centers are located throughout the city. A professional financial counselor can help you understand and make a plan to pay off your debt, improve your credit, create a budget, open a bank account, and more. You can also ask for information about saving for your child’s future and support with making a deposit into a college and career savings account that you own for the benefit of your child. To schedule an appointment at an NYC Financial Empowerment Center near you, call 311 and say “Financial Counseling” or visit the 311 website.
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 NYC Public Schools 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 NYC Public Schools offer no endorsement or recommendation about, and do not control, own or are affiliated with the NY 529 Program Manager and any particular college savings or other investment vehicle, including ones which families may learn about through the Save for College Program.