‘Baby Bonds’: Helping Public School Students Pay for College

Screen shot of press conference


Thursday afternoon, Department of Education Chancellor Meisha Porter and Mayor Bill de Blasio held a joint press conference at the Brooklyn Garden Elementary School on Dumont Avenue, in Brooklyn. They celebrated the new city program in place making “Baby Bonds” available for New York City school children.

The new program, technically called the Save for College Program, gives every kindergartner money that does into college savings accounts, starting with $100 per student. This will give all children — regardless of economic status — a chance to save money for their college education. The idea is to alleviate some of the financial burdens weighing on so many New York City families, regarding sending their children to college.

Chancellor Porter said, “What we’re talking about today would have been a game-changer for me, and I’m so excited to make this moment a game-changer for your children with the City of New York.”

According to Porter, 70,000 students in kindergarten across New York City will receive the new baby bonds. It’s an historic move for the city.

Mayor de Blasio said, “Every kindergarten student gets a college savings account as of now in New York City.”

The hope is that, with the initiative, numbers of city students entering college will increase in coming years.