New York City officials are advancing a proposal that could significantly expand college savings support for public school students, with eligible children receiving between $1,000 and $3,000 toward future higher education expenses. The initiative would build on the existing NYC Kids RISE Save for College Program, which currently provides participating kindergarten students with an initial $100 scholarship account deposit.
Under the proposal, children from lower-income households would be eligible for the largest contributions, while other students would receive smaller, but still substantially increased, deposits. Supporters say the measure is aimed at reducing income inequality, expanding access to higher education, and helping families begin planning for college and career training from an early age.
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The plan would represent one of the largest investments in a child savings account program in the United States. Officials believe that providing students with dedicated education savings early in life can increase expectations around college attendance and improve long-term educational outcomes.
The proposal would expand the reach of the existing NYC Kids RISE program, which automatically enrolls public school kindergarten students and establishes scholarship accounts regardless of family income or immigration status. Since its expansion citywide, hundreds of thousands of students have participated in the program.
Advocates describe the proposal as a transformative investment in future generations, arguing that larger account balances could help make higher education and career training more attainable for working-class families across the city’s five boroughs. The proposal remains under consideration as part of broader budget discussions.
