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December 12, 2020

New York City Students Get Early Assist in Saving for College

NYC Kids RISE program is helping more than 10,000 students in schools in western Queens with funds. Students in the area—which includes a large immigrant population and many low-income households—are automatically enrolled in the program when they start kindergarten, receiving $100 in a program-operated college-savings account, known as a 529, along with opportunities for additional money. Families can also receive help in opening separate accounts that provide tax-free savings and withdrawals for higher education. The two savings accounts can be used together.

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