Do you know that for as little as $500 you can put a child on a path to a successful college career?
Do you know that for as little as $500 you can put a child on a path to a successful college career? With matched savings in a Child Development Account, that $500 becomes $1,000, and keeps growing over a child’s lifespan, to as much as $7,000. When an account gets opened for a child, their parents open an emergency savings account and take financial capability training.
Almost 700 individuals have used their matched savings for higher education through Prosperity Works.
According to the Urban Institute, children who enroll in and leverage Child Development Accounts are:
In 2012, when Adrian was in the 4th grade and 10 years old, he enrolled in Prosperity Kids. He always planned to attend New Mexico Mining and Technology Institute. He enrolled in 2021 and is majoring in mechanical and aerospace engineering. Adrian plans to continue through completion of his Master’s degree.
Adrian’s mother reflects that the Child Development Account helped make it less stressful for the family with the upfront costs for college including getting a laptop and other out of pocket expenses. She knows Adrian’s degree gives him a world of opportunity.