1. Bashir Algaheim Community Engagement Manager
CSA 101
Bashir Algaheim Community Engagement Manager

2. Welcome to the first day of college It just looks like kindergarten
CSA 101
Welcome to the first day of college It just looks like kindergarten

3. Challenges our Families Face
CSA 101
Challenges our Families Face
A third of San Francisco children are born into families with no savings or assets of any kind, one-half of African American and Latino children
47% of families in San Francisco are financially insecure (Urban Institute, 2017)
21% of K2C families surveyed indicated financial hardship as main barrier to saving (Earn, 2013)

4. Hope for our Students
CSA 101
According to the US Census Bureau, a college graduate will earn $1 million more than a high school graduate over their lifetime.
A child with a college savings account in his/her name is 7 times more likely to attend college than one without, regardless of income, race or academic achievement. M

5. Kindergarten to College (K2C)
Spring 2011, San Francisco launched the first universal, public, matched Children’s Savings Account (CSA) program in the country
K2C opens a savings account, with initial $50, for all children entering kindergarten in the City’s public school district, putting students on a path to college from the first day of school.

6. Program goals Create a college going culture
CSA 101
Create a college going culture
Children with even less than $500 are 3Xs more likely to go to college than those without savings.
Reduce financial exclusion
Universal access to a college savings accounts for children as they enter kindergarten in our public schools
Increase financial literacy
Incorporate financial education into our school classrooms, and link education to action.
Leverage private investment for good
K2C leverages private funds for savings matches and help families earn money for college

7. Key Design Features
Auto-enrollment, opt-out: children enrolled by default
Universal: all incoming Kindergartners at SFUSD
Publicly Funded: City commitment
Matched Savings: incentives to help families save
Range of deposit options: variety of channels
Financial Education: equips kids for success

8. HOW THE ACCOUNTS WORK FEBRUARY OCTOBER NOVEMBER SEPTEMBER CSA 101
School District sends Data
OCTOBER
K2C Creates Accounts
NOVEMBER
Parents Receive Welcome Packets with account number
FEBRUARY
Cycle Restarts in Spring
Money held in trust in child’s name for post-secondary school
Parents can register on Portal
City tracks incentives
Emergency Withdrawal

9. Basics All K-5 enrolled, with select 6th and 7th graders
The city seeds every student’s account with $50
Families can receive additional money through program incentives
Families contribute by mail, bank branch, direct deposit or online
Accounts do not affect families’ eligibility for public assistance
Free--no hidden fees or charges

10. Current Incentives Free and Reduced Lunch Incentive- $50
Expires 10/31/2017
Match - 1:1 up to $100
Save Steady - $100 if save regularly for six consecutive months
Expires 3/31/2018

11. Progress To-Date 90 schools 27,000 accounts $5 M in accounts
CSA 101
90 schools
25% 7th graders
55% 6th graders
100% K-5th graders
27,000 accounts
$5 M in accounts
$2.8 million contributed by families
18.4% Saver rate
$575 average saved

12. New Incentives Effective November 1, 2017
$10 - Save Now bonus: one-time $10 bonus if a contribution is made before December 31st, 2017
$60 - Save Monthly bonus: save a minimum of $10 in any month, receive $10, up to $60 for any six months of saving by December 31, 2018
$20 Account Registration bonus: register on the K2C portal to view account activity
Other incentives considered on an annual basis, based on funding

13. Program Updates
Welcome/welcome back kits to all participants with their K2C activity statements to be distributed by schools
Schools to receive quarterly scorecards
Involving high school students in delivering college kit lessons in elementary schools
Targeting to have a K2C school ambassador for each school

14. Strengthen Engagement
Explore new channels for families to make deposits
Engage more schools and CBOs to conduct branch field trips or college saving days
Mission Graduates
Richmond Neighborhood Center
Parents for Public Schools
Portola Family Connections
Bay Area Community Resource
Felton Institute
Urban Ed

15. K2C engagement Citibank Field Trips Community Events
School Presentations
Back to school night
College kits at all elementary school
Teacher and parent workshops

16. K2c support Talk with students about college, savings
Ask K-5 families their awareness of the program
Encourage students and families to save, and take advantage of the incentives
Volunteer (field trips, assist with community events)
Donate
Provide feedback
Direct families where to go for K2C help
3-1-1 (in SF) or

17. CSA 101
 Bashir Algaheim Community Engagement Manager Kindergarten to College Office of Financial Empowerment Office of the Treasurer & Tax Collector City and County of San Francisco