Charity

Foundation supports NYC Kids’ college savings with grant

Smiling mixed race male kindergarten student draws a picture during art class. He is listening as his art teacher helps him.

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The BlackRock Foundation has awarded a $3.75 million grant to NYC Kids RISE, a nonprofit organisation dedicated to supporting early college and career savings programmes for New York City public school students. The grant will be directed to four community-based organisations: Urban Upbound, Sunnyside Community Services, Mercy Centre, and Qualitas of Life Foundation. These organizations will partner with NYC Kids RISE to increase access to its Save for College Program

For further information, read more details here

Through NYC Kids RISE, public school students are provided with tax-advantaged NY 529 Direct Plan savings accounts to help fund college and career training. The program currently has 280,000 students enrolled and aims to automatically register each year’s kindergarten class until all 900,000 public school students in the city have accounts invested through the state plan. To date, $42 million has accumulated in the NYC Kids RISE programme accounts.

In addition to savings accounts, the programme offers scholarships, tools for families to create college and career savings plans, financial education, and empowerment activities. NYC Kids RISE also provides opportunities for local communities to invest in neighborhood scholarships and support

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