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Boston Saves
We empower families to save and plan for their children’s futures with the support of their City, schools, and community.
Boston Saves gives each K2 kindergartner in Boston Public Schools an account with $50 from the City of Boston. The money in this account can be used for college or job training costs after the student finishes high school. Families can earn more from the City by:
- linking a financial account to their child’s Boston Saves account
- saving $25 for their child in a three-month period, and
- reading regularly with their child
Through the online Savings Center, families can track the growth of their child’s account. Schools also host family events and classroom activities to make saving fun.
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Boston Public Schools families
If you're a parent of a student, visit the Boston Public Schools website for more information:
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Donate to Boston Saves
Want to help out the program? You can make donations online:
Why use the program
A culture of student success
Our vision is to create a citywide culture that supports the educational and career aspirations of Boston’s children and their families. We do this by empowering families to save and plan for their children’s futures with the support of their city, schools, and community.
Research shows that:
- families with children’s savings accounts are more likely to see college as a goal for their children, and
- low-income children with $500 or less in a savings account for college are three times more likely to enroll in college. They are also four times more likely to graduate from college.
Resources
ResourcesBoston Saves 2016-2017 Pilot School application
Boston Saves 2017-2018 Pilot School Application
Boston Saves Custodial Account Agreement Template
Boston Public Schools Boston Saves website
Boston Saves pilot summary
Boston Saves Tech Tool RFI
Boston Saves Tech Tool RFP
Boston Saves Webinar (December 2015)
Boston Saves Webinar (March 2017)
Boston Saves 2016-2017 Info Session Invite to Schools
Boston Saves 2017-2018 Info Session Invite to Schools
Job description for incoming Boston Saves program manager
Learnings from Boston Saves (Commonwealth Blog Post)
Prosperity NOW: Program Design Spotlight featuring Boston Saves (October 2017)
Prosperity NOW: Developing CSA Programs with Families in Mind (Audio, April 201…
Prosperity NOW: Developing CSA Programs with Families in Mind (Slides, April 20…
Prosperity Now: CSA Info Systems featuring Boston Saves (June 2019)
Seeds of Equity: Fostering Inclusivity in Children’s Savings Account Programs (…
Press
Press- "Boston Saves gives BPS students money for their future" (Boston.com, January 9, 2022)
- "Boston kids get extra $25 for 1st-time savings account login" (Associated Press, January 10, 2022)
- Children's savings accounts help families eye college, vocational goals (Next City, March 19, 2020)
- City promotes financial responsibility events for residents for America Saves Week (Daily Free Press, February 28, 2019)
- Kindergarten students across Boston receive $50 in saving program (WBZ CBS Boston, September 9, 2019)
- Boston to give all kindergartners $50 in savings accounts (Boston Herald, September 9, 2019)
- Boston’s children savings account program to expand to all public schools this fall (Boston Globe, September 9, 2019)
- Boston gives kindergarteners $50 in savings accounts (Boston.com, September 9, 2019)
- Boston is giving every public school kindergartner $50 to promote saving for college or career training (CNN, September 10, 2019)
- Boston to give $50 to every kindergartner in public school to jump-start college funds (ABC News, September 10, 2019)
- Why Boston gave every kindergartner $50 on first day of school (Yahoo Finance, September 10, 2019)
- Marty Walsh talks student program, straight pride parade (NECN, September 10, 2019)
- Boston gives kindergarteners $50 in savings accounts (WBZ NewsRadio, September 10, 2019)
- Why Boston gave every kindergartner $50 on first day of school (Fox Business, September 10, 2019)
- All Boston kindergartners to receive $50 savings accounts at start of school year (Fox News, September 10, 2019)
- Every child in a Boston kindergarten will be given $50 in a savings account in a bid to encourage them to set money aside for the future (Daily Mail, September 10, 2019)
- Boston is giving all kindergartners $50 for college (CNBC, September 12, 2019)
- Mayor Walsh’s college savings program expands to Boston’s kindergartners (Daily Free Press, September 13, 2019)
- City helps students save money for college (North End Waterfront, September 16, 2019)
- Education savings program expands (BNN News, September 16, 2019)
- Guest op-ed: Saving for your child’s future can be overwhelming, but Boston is here to help (Charlestown Bridge, September 28, 2019)
- Walsh: Saving for your child’s future can be overwhelming, but Boston is here to help (Jamaica Plain News, October 1, 2019)
- "Boston Saves: Setting Our Children Up for a Brighter Future" (Medium, May 10, 2018)
- "Faces of America Saves Week" (Office of Workforce Development, March 8, 2018)
- "New Boston Saves program manager named" (Banker & Tradesman, January 15, 2018)
- "Boston’s Office of Financial Empowerment Wants to Spread the Wealth" (Next City, February 8, 2017)
- "InvestCloud partners with City of Boston for Family Savings Program" (PR Newswire, February 23, 2017)
- "Walsh, Harvard Kent Students Set to Debut New Childhood Savings Accounts" (Charlestown Patriot-Bridge, February 28, 2017)
- "Students start saving early in new program" (WCVB, March 1, 2017)
- WBUR Early Edition, March 3, 2017 (Trinh Nguyen at 66:12)
- "Boston launches child savings accounts" (Banker & Tradesman April 9, 2017)
- "Financial planning program for Boston kids receives 150k grant" (Banker & Tradesman, April 27, 2017)
- "Boston Foundation donates $150,000 to Boston Saves" (BU Daily Free Press, May 5, 2017)
- "Boston Saves awarded $150k to help Boston kindergartners" (Wicked Local Roslindale, May 1, 2017)
- "City to help kindergarten students save for college" (Boston Globe, March 1, 2016)
- "Mayor Walsh announces savings account pilot program for five Boston Public Schools" (Boston.com, March 2, 2016)
- "Boston Picks 5 Schools For College Savings Pilot Program" (WBUR, March 2, 2016)
- "Roslindale school to participate in children’s saving account pilot" (Wicked Local Roslindale, March 3, 2016)
- "Piggy Banks For All the Students: BPS and EBSB Team Up for College Savings Program" (East Boston Times-Free Press, November 11, 2016)
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Boston Public Schools families
If you're a parent of a student, visit the Boston Public Schools website for more information:
-
Donate to Boston Saves
Want to help out the program? You can make donations online:
