Kindergarten to College Universal Savings Program
Origin: San Francisco Office of Financial Empowerment
Link: Click here
Summary: In 2012, every incoming San Francisco public kindergarten student, a total of over 4,500 students,
received a college savings account with a $50 deposit, and the opportunity to receive bonus incentives. Now, more
than 20,000 accounts have been opened since the program began in 2010.
Talking Points & Important Information:
• The program’s goal is simple: to make sure every child in San Francisco can save for post-secondary education.
• Children who have even small savings accounts for college are 7 times more likely to attend and graduate from
college than those who have no savings account.
• Universal savings plans and automatic deposits at birth enshrines engages parents and children from the
beginning and enshrines the value of pursuing higher education. In fact, college enrollment among low-income
students has risen though significantly lags enrollment by middle- and high-income students. In 2012, about
51 percent of recent low-income high school graduates and equivalency holders were enrolled in college, while
enrollment among middle- and high-income students had risen to nearly 65 percent and 81 percent.
2015 POLICY BOOK
LOCAL
LEVEL
PAGE 36