Newsom launches Kindergarten to College program

Since state lawmakers continue to slash higher education and raise college tuition and fees, it’s become imperative to start saving for college when you're five.

That’s pretty much why Mayor Gavin Newsom on Tuesday kicked off the nation’s first Kindergarten to College program, which creates a savings account for every kindergartner entering public school in San Francisco. Even better, The City will drop some seed money into the accounts, giving parents a leg up.

Philanthropic foundations will provide cash matches and incentives to encourage families to save. Emerging research shows these accounts can be a cost-effective investment to boost academic performance, and increase savings and financial literacy.

One in three San Francisco children is born into a family with no savings or assets of any kind, according to the City Treasurer.

“There’s no better long-term investment we can make as a city than helping our kids go to college, and Kindergarten to College will provide working families with the financial tools to turn a college education for their child from a distant dream to a practical reality,” Newsom said.

esherbert@sfexaminer.com

Bay Area NewsGovernment & PoliticsNEPPoliticsUnder the Dome

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Caltrain’s future in jeopardy after supervisors block sales tax measure

Roughly 90 minutes into Tuesday’s San Francisco Board of Supervisors meeting, local… Continue reading

Feds target donations from city contractors with new subpoena in Nuru scandal

Federal authorities have homed in on an apparent trail of donations from… Continue reading

Police union opposes proposal to hang ‘Black Lives Matter’ posters at stations

SFPOA criticizes plan for injecting ‘political agendas and wedge issues’ into policing

Twitter blocks verified accounts from posting after hack hits high-profile users

After the Twitter accounts of Barack Obama, Joe Biden, Kanye West and… Continue reading

Private, charter schools likely forced to begin semester with distance learning

Private and charter schools that may have planned a return to in-person… Continue reading

Most Read