On January 1, 2020, the City of Saint Paul launched CollegeBound Saint Paul to start every child born in our city with $50 in a college savings account. Led by Saint Paul's Office of Financial Empowerment, this new citywide program illuminates a pathway to a brighter future by connecting families to financial services, financial education, early childhood education and services, community-based wrap-around programs and services, and free tax preparation.
The City of Saint Paul worked closely with leading experts in the emerging field of college savings accounts and convened a community-driven, 50-member task force to design the program over the course of 2018. The task force and its subcommittees made the community a top priority in the planning process and intentionally engaged with communities whose voices have been historically excluded. Community engagement sessions were held with 145 residents from a broad range of cultures and experiences that reflect the diversity of Saint Paul.
Led by our Office of Financial Empowerment, CollegeBound Saint Paul is the centerpiece of a broader plan to address the educational opportunity gap, financial insecurity, and inequalities among many families. Learn more at https://www.collegeboundstp.com/
View the College Savings Account Task Force report here.
