Every child in a Boston kindergarten receives $ 50 in a savings account in an effort to encourage them to set aside money for the future
- Boston Saves a $ 50 savings account for every Boston kindergarten
- Program aims to teach students the importance of saving from a young age
- Students only have access to money when they have finished high school
- Children are encouraged to spend the $ 50 on school or vocational training
Every kindergarten in Boston is set to a $ 50 savings account, thanks to the Boston Save savings program.
According to Boston Mayor Marty Walsh, who announced the initiative on Monday, Boston Stores will reach all schools in the area in the fall of 2019.
Boston Stores is a savings account program for children with which families can save and plan for their children's education or training.
Each Boston K2 kindergarten is set on a $ 50 savings account thanks to the Boston Save savings program (stock image)
The program aims to teach students how important it is to save from a young age and to improve access to college and career.
Students only have access to the money when they have finished high school or its equivalent.
The money will remain in the account of the Boston Educational Development Foundation until then.
Children are encouraged to spend the $ 50 on school or vocational training. If the money is not used at the age of 27, it goes back to the city.
Inspector Brenda Cassellius of Boston Public Schools (photo) said: & # 39; Every child deserves to receive the message & # 39; We believe in you and you can hear everything & # 39; from the first minute they walk through our school doors & # 39;
Boston Public Schools Chief Inspector Brenda Cassellius said: & # 39; Every child deserves the message & # 39; We believe in you and you can hear everything & # 39; from the first minute they walk through our school doors. & # 39;
The initiative started three years ago as a pilot program at 11 schools, of which around 1,600 students have benefited.
The cost of the program, Boston Saving for the City, is approximately $ 200,000 each year according to the information CBS Boston.
It also receives contributions from external donors and non-profit organizations.
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