San Francisco college savings plan working

Nice News  In 2011, San Francisco opened college savings accounts with $50 in them for all public school kindergartners, the start of a program called Kindergarten to College, or K2C. Over a decade later, many of those in that first class of kindergartners are beginning college. So is it working? According to the students, city officials, and other places around the country that have since started their own similar schemes, the answer is a resounding yes. “It means hope for me that I’m able to go to college, and I’m very proud of that,” 17-year-old Yadira Saavedra told CNBC. The first-generation college student will use her K2C account to help pay for her time at the University of California, Davis, and she’s excited about the impact her path will hopefully have on her younger siblings. The success of the program is significant given the skyrocketing costs of higher education, and it’s backed up by research. A 2013 study found that low- and moderate-income children with school savings accounts are far more likely to enroll in college and graduate than those without, even when the families have saved less than $500.