10,000 NYC Kids To Get College Savings Accounts

NEW YORK (AP) -

Some 10,000 New York City children will start kindergarten with $100 in a college savings account thanks to a public-private partnership to boost the number of students attending college.

Under the three-year pilot program announced Tuesday, 3,500 kindergartners will get so-called 529 college savings accounts next fall. Another 3,500 kindergartners will get the accounts in the fall of 2018 and a third group in the fall of 2019.

Families that meet savings benchmarks will get up to another $200 in matching funds.