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Earn the Savings Match

Double Your Savings in First Grade! For the next $100 your family saves, we’ll save $100 for your child too.


 
Saving for college and career training 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 is different for every family. The good news is that no amount is too large or too small when you start saving early and make a plan to save regularly. PLUS, for the next $100 your family saves, 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, to help you reach your next $200 saved. Before you can start earning the Savings Match, you must first complete the 3 Building Blocks. Click here for instructions on how to finish.

Savings Match Q&A

How does the Savings Match work?

For every dollar your family deposits into your connected college savings
account up to the next $100, NYC Kids RISE will deposit a dollar into your child’s NYC Scholarship Account.

As long as you have connected a college 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.

When can I start earning the Savings Match?

This Savings Match opportunity starts when your participating child is in first grade and ends on their last day of fifth grade.

You must complete the 3 Building Blocks to be eligible for the Savings Match.

How will I know if my child’s account has received the Savings Match?

To see the deposits NYC Kids RISE has made into your child’s NYC Scholarship Account, log back into your Savings Tracker here.

How much should I start saving regularly into my child’s college savings account?

Every family’s situation is different. College savings are one important piece of a family’s overall financial health. 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 at 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.

For free, one-on-one support with fitting savings into your overall financial picture, 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, save and plan for your future, and more. You can also get information about saving for your child’s college education and making a plan to start saving.

To schedule an appointment at a Financial Empowerment Center near you, call 311 or visit nyc.gov/dca

Where can I get more information?

Click here for more Questions & Answers. If you can’t find an answer to your question there, call us at 833-543-7473 or email info@nyckidsrise.org.

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 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.

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