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January 22, 2021

College Savings Accounts for All NYC Kids

Given the unprecedented day-to-day challenges and historic unemployment rates our city faces, many New Yorkers tried to end 2020 with as much of their fragile savings intact as possible. It seems beyond the imagination in this new year of challenges to think about saving for your children’s college education. However, it is just that kind of “I’ll think about that tomorrow” thinking that jeopardizes the ability of children to indeed attend college when they come of age. And it is just that kind of thinking that inspired me when I served as commissioner of the Department of Consumer Affairs to create and drive the launch for the city of the first of its kind public-private partnership, NYC Kids RISE, a city college savings program that works in collaboration with New York State’s 529 College Savings Program.

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