September is College Savings Month. It’s a month dedicated to inspiring communities across the country to save for children’s futures – be it college, a trade school, or another form of post-secondary education.
The “college savings” theme also makes September the perfect time to learn about children’s savings accounts (CSAs), a vital tool for building savings, raising college aspirations, and strengthening the future of Lapeer County.
Children’s savings accounts are long-term savings accounts that offer incentives to low-income families to save for their kids’ post-secondary education. Learn more about the Lapeer County LEAF, our community’s CSA program.
College can be prohibitively expensive, and financial aid often doesn’t cover all the essential costs. CSAs give young people and their caregivers the confidence that they can afford at least some of the expenses. Plus, CSAs are flexible and can pay for things like books, room and board, and fees that some scholarships won’t cover.
Not only do savings help pay for post-secondary education, but children’s savings accounts also give kids hope that college is possible. Studies show that low-income children with small amounts of college savings are 3x more likely to go to college and 4x more likely to graduate.
This College Savings Month, let’s unite our schools, businesses, banks, funders, community organizations, and more to show young people that we support their educational goals and dreams.
Learn how you can strengthen our future with children’s savings accounts by visiting the Lapeer County LEAF website at https://lapeercountycf.org/leaf/.
Happy College Savings Month!
Lapeer County Community Foundation