The Inclusive Economy
Campaign to Expand Children's Savings Launched at Clinton Global Initiative (CGI) America
By Carl Rist on 07/09/2015 @ 10:00 AM
In early June, CFED and a number of our partners joined President Clinton on stage at the Clinton Global Initiative (CGI) America Conference in Denver to launch a major new initiative: the Campaign for Every Kid’s Future. The Campaign is an ambitious five-year effort to connect 1.4 million kids with savings accounts to help them save for college, build positive aspirations and secure a stronger future.
In addition to President Clinton, CFED President Andrea Levere was accompanied onstage by several campaign partners who are also leading efforts to expand children's savings programs, including:
- Colorado Governor John Hickenlooper
- San Francisco Treasurer José Cisneros
- St. Louis Treasurer Tishaura Jones
- Heidi Goldberg, Director of Economic Opportunity and Financial Empowerment for the National League of Cities
- Laura Owens, Director of Strategic Initiatives for the 'I Have A Dream' Foundation
- Michael Sherraden, Founder and Director of the Center for Social Development at Washington University in St. Louis
Why focus on savings accounts? Research shows that children with a savings account in their own name are six times more likely to go to college than children who don’t have an account. Plus, even small savings can have a huge impact on college success. In fact, low-income students with just $500 or less in college savings are three times more likely to enroll in college and four times more likely to graduate than those without savings. Through the Campaign, we are working to raise the visibility of Children's Savings Accounts and ensure that many more kids have the opportunity to prepare for a brighter future.
Since the launch of the Campaign, the response from across the country has been overwhelming. More than 40 organizations and 60 individuals have signed on as formal partners, pledging their support for expanding children’s savings. In the weeks ahead, CFED has planned a number of activities to build on this momentum and propel the Campaign forward, including:
- Expanding our engagement with the public, private and nonprofit sectors to grow the number of Campaign partners.
- Amplifying the importance of Children’s Savings Accounts through our communications efforts, including op-eds, blogs by our partners and a Twitter chat in late July (stay tuned!).
- Convening an in-person gathering (details to be determined) to engage our partners in a deeper dialogue about how best to collaborate to achieve the Campaign’s ambitious goals.
We are honored to work with the many partners who are making the Campaign for Every Kid’s Future possible and look forward to making big strides in the weeks and months to come. If you are interested in joining the Campaign as an individual, sign up here. If your organization is interested in being named a formal Campaign partner, please contact us.