Together, We’re Changing Children’s Futures
Although these numbers can be discouraging, there’s also some good news: Research shows that low- to moderate-income children with even a small amount of college savings are three times more likely to attend college—and four times more likely to graduate.
This strong correlation between college savings and college attendance and completion is what led us to partner with Communities Foundation of Texas to create the Dollars for College program. Dollars for College provides an easy way for families to open a college savings account in their child’s name, which leads to higher rates of college attendance and college completion.
Individuals can seed a child’s college savings account by donating just $50. Then, students and families can earn incentive deposits and can make their own deposits over time. During the two-year program, one of these savings accounts can grow to $500, and it continues to grow during the child’s primary and secondary education, which helps set a high school graduate up for success in college.
“Dollars for College creates new access to a safe and affordable college savings plan by removing many of the barriers that have previously existed for low- and moderate-income families,” said Greg Mangum, vice president of economic mobility at United Way of Metropolitan Dallas. “Having savings dedicated for post-secondary education helps shift the focus of students and families to good-paying careers and supports the school’s goals of educational attainment, both during K-12 grades, as well as through the completion of a college-level degree or certification.”
Together with our incredible supporters, we’ve made a huge impact since the Dollars for College program began:
- 1,410 Dollars for College accounts have been opened
- $191,040 in deposits have been made
- 960 students have received financial education