Saver Spotlight: Miguel
Miguel's story was featured in our 2013 Impact Report. Since then, he's almost doubled his savings!
Miguel plans to be a zoologist when he grows up, although with his recent savings success he might want to consider a career change to fundraiser! After receiving a college savings account through The Children's Aid Society’s (CAS) College Savers Program, Miguel launched his own fundraising campaign. In lieu of gifts during the holidays, he received $200 in donations from friends and family for his account. Miguel also asked his mom if he could work to earn a regular allowance that would go towards his college savings. She agreed, setting up automatic bill-pay to ensure regular deposits. When they visited Citibank together, Miguel proudly deposited his first earnings into a college fund that is set to steadily grow.
Miguel has shown his passion for fundraising; matching incentives from the CAS College Savers Program encouraged him to form sustainable savings habits. When Miguel and his mother first opened his Citibank account, he received an initial $100 deposit available through the generosity of Justin and Lauran Tuck's R.U.S.H for Literacy. The Children's Aid Society then matched the dollars saved by Miguel and his friends and family up to the first $100, using incentive dollars raised via the 1:1 Fund and R.U.S.H. for Literacy. And when Miguel’s mom enrolled in automatic bill-pay, her son’s account received an additional $50 boost; plus another $100 when Miguel won a monthly raffle for making a minimum contribution. That’s $350 in savings incentives.
The CAS College Savers Program demonstrates how the 1:1 Fund works to unite partners. The Children’s Aid Society has the students, local networks, expertise and outreach capability to make their College Savers Program a success. The 1:1 Fund partnered with Justin and Lauran Tuck, co-founders of R.U.S.H for Literacy, who contributed incentive funds to launch the first class of the CAS College Savers Program. In addition, the 1:1 Fund provides ongoing support that enables the CAS College Savers Program to thrive. And it has: in the first 10 months of the program, 35% of savers had already made a contribution.
Children with $500 or less saved for college are 4 times more likely to graduate from college than students with no savings. With over $1,200 in his college savings account, and responsible savings habits, Miguel has taken the first steps towards making his college dreams a reality.
Learn more and donate to the CAS College Savers Program here.