CSA Program Models
City and County Governments
Cuyahoga County (Cleveland), Ohio’s College Savings Account Program
In November 2012, Cuyahoga County announced a new initiative to open a college savings account for every incoming kindergartener in the county, which includes Cleveland. Championed by County Executive Ed FitzGerald, the program is the largest effort to offer child savings program in the U.S. and will serve nearly 15,000 students in public, private, charter and parochial schools.
Cuyahoga County will start by enrolling 25% of kindergarteners in the program in fall 2013 and plans to enroll 100 percent of incoming kindergarteners by fall 2015. The county will seed each account with a $100 initial deposit that can be used for any postsecondary education, including vocational training as well as two- and four-year colleges. The program will also include a financial education component and is part of an accelerating trend to begin teaching saving and money management skills to both children and their parents.
San Francisco’s Kindergarten to College (K2C)
CFED helped develop the pioneering Kindergarten to College savings account program in the City of San Francisco, in partnership with San Francisco Mayor’s Office, the Office of the Treasurer, the Department of Children, Youth, & Their Families and the San Francisco Unified School District, and with support from EARN and the New America Foundation. The Kindergarten to College program is the first publicly funded universal CSA program in the United States. The program opens a savings account seeded with a $50 deposit for every child entering kindergarten in San Francisco public schools. The savings account is then coupled with a financial education component.
Learn more about the development of K2C and order an informational video, "A Foot in the Door."