EARN Now Offering Children’s Education Savings Accounts in Marin
EARN, a provider of microsavings based in San Francisco, announced that it is now offering children’s education savings accounts to Marin County families. EARN children’s education savings accounts are matched savings accounts, in which low-wage families can save for their child’s education.
For every $1 the family saves, the program matches them with $3. Families can save up to $500 in their account and receive up to $1,500 in match money, giving them a total of $2,000 to invest in their child’s education. Children must be between the ages of 10 and 17 when entering the program. Funds can be used to pay for college or vocational training – or for enrichment while the child is in middle or high school, such as: tutoring, summer enrichment camps, after-school programs, music classes, a computer, etc. Click here for program details and income qualifications.
EARN’s goal is to change the future for thousands of families across California by providing this proven, effective product that opens doors to education and prosperity. For an example of the SAFE program’s impact, please go to www.earn.org/success_stories and click on Julia’s video.
EARN is a nonprofit that gives low-income working families the power to create prosperity for generations. As the nation’s leading microsavings provider, EARN gives families the tools to build wealth and achieve life-changing goals such as saving for college, buying a first home, or starting a small business. Since 2001, we have helped tens of thousands of low-wage families in the San Francisco Bay Area through innovative financial products including matched savings accounts, checking accounts for the unbanked, and financial coaching. The EARN Research Institute evaluates the impact of EARN’s work and publishes original data, sharing lessons learned and best practices. We use this unique grounding in rigorous applied research and direct service experience to transform the financial services landscape and to champion effective public policies. EARN’s ultimate vision is that millions of well-informed, low-wage American families will achieve financial success through proven strategies, fair public policy, and their own hard work.