The City & County of San Francisco and Citi Community Development Receive 2013 Excellence Award in Public-Private Partnerships from U.S. Conference of Mayors
NEW YORK–()–The City and County of San Francisco and Citi Community Development
today received the 2013 Excellence Award for Public-Private Partnerships
at the U.S. Conference of Mayors 81st Winter Meeting in Washington, DC.
The award, which honors the outstanding achievements made possible
through the combined effort of cities and members of the Mayors Business
Council, recognizes the cross-sector collaboration on Kindergarten to
College, the nation’s first universal college savings program for
children.
“Research tells us that a child
with a college savings account in their name is several times more
likely to go to college, and we are cultivating expectations for
academic success for our students.”
First launched in 2010, Kindergarten to College automatically
establishes savings accounts in Citibank branches for children entering
kindergarten in all 75 of the San Francisco Unified School District’s
elementary schools. All accounts are seeded with an initial $50 deposit
by the City of San Francisco, and children receiving free and reduced
price lunches receive an additional $50.
“I thank Citi Community Development, San Francisco Unified School
District, Mayor Lee, and all our partners who have worked to make K2C a
success,” said Treasurer José Cisneros. “Research tells us that a child
with a college savings account in their name is several times more
likely to go to college, and we are cultivating expectations for
academic success for our students.”
Kindergarten to College is designed to embed a savings culture among San
Francisco’s children and their parents as a way to expand college access
and increase college completion rates while decreasing debt. Since its
inception, nearly 8,000 accounts have been opened, with the City of San
Francisco matching
Article source: PRNewswire
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