NYC Kids RISE Save for College Program: A Simple Guide for Students and Parents

What is the Save for College Program?

The NYC Kids RISE Save for College Program helps NYC public school students save for college or career training. Every kindergarten student in a participating NYC public school, including charter schools, is automatically enrolled and gets $100 in an NYC Scholarship Account. This program is for all students, no matter their family's income or immigration status.

Who Can Join?

• Kindergarten, 1st, and 2nd Grade Students: Enrolled during the 2023-24 school year in NYC public or charter schools.
• District 30 Students: From the pilot program that started in 2017, including all kindergarten through 5th-grade students in the pilot schools.

How Does It Work?

1. Automatic Enrollment: Every eligible student is automatically enrolled unless parents opt out.
2. Initial $100 Scholarship: Each student receives $100 in their NYC Scholarship Account.
3. Adding More Money: Families, community members, businesses, and others can contribute to the accounts through Community Scholarships.
4. Viewing Accounts: Starting in January 2024, parents can activate and view their child's account online.

Privacy and Opting Out

• Information Shared: Only basic information like the student's name, address, and school is shared with NYC Kids RISE and VistaShare, a data management company. They use this information to manage the accounts and cannot sell or use it for marketing.
• Opt-Out Option: Parents can choose not to participate by submitting an opt-out form within 30 days of enrollment. This can be done through the NYC Schools Account or directly at the student's school.

Participating Schools in District 30

This program includes many schools such as P.S.002 Alfred Zimberg, P.S.011 Kathryn Phelan, P.S.017 Henry David Thoreau, and others within the geographic boundaries of Community School District 30.

NYC Scholarship Account

• Account Creation: NYC Kids RISE creates an account with an initial $100 for each student. Over time, families and communities can add more money.
• Account Management: NYC Kids RISE manages these funds in the NY 529 Direct Plan, which can be used for various higher education expenses.

Important Dates

• Account Activation: Parents can activate and view their child's scholarship account starting in January 2024.
• Opt-Out Deadline: Parents must opt out within 30 days of their child's enrollment to exclude them from the program.

Questions and More Information

For more details, visit the NYC Kids RISE website or email info@nyckidsrise.org. Parents can also contact their school’s Parent Coordinator or email savingtogether@schools.nyc.gov for further assistance.

This program is a fantastic opportunity to start saving for your child's future education. By participating, you can help ensure they have the resources they need for college or career training.