A college education has historically been a tool for Black Americans to push forward and support ourselves and our communities. However, the price of admission is too high for many Black people today.
Could the rise of state-sponsored child savings accounts make paying for college a little easier?
In over 36 states – including Maryland, South Carolina, Georgia, and Alabama – child savings accounts are making it possible for parents to start planning early for their child’s future by placing $100 into a savings account for them as soon as they enter kindergarten.
It doesn’t sound like much, but over 15 years, and with regular contributions, it can grow.
Taking advantage of programs such as the NYC Kids RISE Save for College Program can help to combat the student debt crisis for Black families. A more educated Black community can only benefit our collective progress toward Black liberation!
Find out if your state has a similar program and whether it makes sense for you to take advantage of it.