A growing number of programs around the country offer Children’s Savings Accounts. But many struggle to find donors who will match the contributions of children saving for college. The 1:1 Fund fills this gap by enabling donors, large and small, to contribute matching dollars that motivate students to save and strive for college.
- $530K Total Dollars Raised in 2015
- 26,500 Visitors to 1to1fund.org in 2015
- 12 Number of 1:1 Fund Partners, expanded from 8 in 2014
To learn more about our total impact in 2015, please see our new 1:1 Fund Impact Report below.
The rising cost of college discourages many students from pursuing higher education. In the absence of college savings or other financial resources to help make up the difference between financial aid and the full cost of tuition, students in low-income families face the prospect of either large amounts of debt, dropping out or never attending college. The result is that less than 10% of students from low-income families graduate from college by their mid-twenties.
Children’s savings accounts can help change that equation by encouraging children and their families to start saving and planning for college early on. 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.
- 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.
- 72% of low-income students with college savings enroll in college and 33% graduate. Without savings, just 45% enroll and 7% graduate.
- $23 a month in a children’s savings account grows into $16,000 in savings by age 18, significantly decreasing the effects of college debt.