Every child born in St. Paul starting January 1, 2020, will have a birthday gift deposited into his or her CollegeBound educational saving account. The program will help families build a strong foundation to invest in their children’s education and future. Families can contribute additional money and watch their college savings and dreams grow along with their child over time.
The City will contribute $50 to open the account, and children and families will have the opportunity to receive more money in their accounts through bonuses. They can earn bonuses by logging into the Savings Portal for the first time, reaching milestones, participating in early childhood programs, and using financial capability resources provided by the City and community organization partners. It will also be a great opportunity for family and friends to make contributions over time to help the account grow.
To ensure sustainability, CollegeBound Saint Paul will have a range of funding sources. The City will fund the program staff and the account/information management platform through the Office of Financial Empowerment. The seed deposits, family outreach and engagement and bonuses will be funded through local community foundations, corporate foundations and donors, as well as individual donors.
The program is inviting St. Paul community members to be involved in several ways. Visit collegeboundstp.com for details:
• Community Outreach and Enrollment Partners;
• Program Champions — People and/or organizations who support and endorse the program will raise awareness of the program by hosting and facilitating events and talking to the families in their communities about CollegeBound Saint Paul.
• Program Outreach Ambassadors — they will be crucial to the program’s success, activating their communities through connections and trusted relationships with families.
• Lead the work by attending trainings and taking part in leadership development opportunities.
• Facilitate and host CollegeBound St. Paul events.
• Have 1:1 conversations with eligible families in your community.
• Recruit program champions. Ambassadors will receive a stipend and have leadership development opportunities and invitations to events during the program.
Outreach Ambassador application deadline is March 15, followed by phone interviews March 17-19 and orientation on March 31. If interested, please email firstname.lastname@example.org to receive a link.