Stay Connected

About 1:1 Fund

Mission

The 1:1 Fund supports the college dreams of low-income children by ensuring that those dreams are matched with savings in the bank. The 1:1 Fund makes it easy for local children's savings programs to raise matching funds from donors, large and small, thereby enabling these donors to match the contributions of young savers in special college savings accounts. These accounts help low-income families save for college while giving them the confidence that post-secondary education is a real and attainable goal. As a result, we work with various community partners around the country to help sustain or grow their local CSA programs.

History

CFED

The 1:1 Fund was conceived and capitalized by the Corporation for Enterprise Development (CFED), a national nonprofit based in Washington, DC, that empowers low- and moderate-income households to build and preserve assets by advancing policies and programs that help them buy a home, pursue higher education, start a business and save for the future.

Although college or other post-secondary education is critical to obtaining good jobs in today’s economy, fewer than 1 in 10 low-income students graduate from college by their mid-twenties. Many never consider college an option since they view it as out of their financial reach. Having a Children's Savings Account (CSA) can make all the difference. Research shows that low-income children with up to $500 in college savings are three times more likely to go to college and four times more likely to graduate than children who don’t have an account.

CFED is engaged in a range of initiatives across the United States focused on providing all kids with CSAs and other asset-building opportunities. Specifically, CFED aims to integrate savings accounts into existing systems serving children and youth, including municipalities, schools, early childhood development programs, college readiness programs, affordable housing and other networks.

CFED launched the 1:1 Fund in late 2012 as an online tool that makes it easy for local children's savings programs to raise matching funds from donors, large and small, thereby enabling those donors to match the contributions of young savers in CSAs. The 1:1 Fund partners with leading local CSA programs that seed them with an initial small sum that family and friends can add to, and that donors can match.

To raise the visibility of CSAs nationally, CFED launched the Campaign for Every Kid's Future in 2015. The Campaign is a collaboration between policymakers, practitioners, researchers, funders, financial institutions, child advocates and others dedicated to expanding CSAs so that all children and families, especially the most financially vulnerable, have the opportunity to build savings for a future that includes postsecondary education. The goal of the Campaign is to ensure that 1.4 milliion kids have a CSA by 2020 -- a key step toward passing national legislation to make an account available to every child in the United States.