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.
- Nearly $450,000 Raised in Savings Incentives in 2016
- More than $1.8 Million in Savings Incentives Raised Since 2012
- 1,875 Individual Donors Since Program Inception
To learn more about our total impact in 2016, 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 large amounts of debt, dropping out or never attending college in the first place. 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 just $500 or less saved for college are three times more likely to go to college and four times more likely to graduate than those without savings.
- CSAs improve early childhood development and academic performance.
- Parents and children with early savings have greater college expectations.