New York City families with children entering kindergarten in public schools this fall have officially started saving for their kids’ college education, and without having to lift a finger.
Through the “NYC Kids RISE Save for College” Program, students who attend NYC public schools and participating charter schools will automatically be enrolled in the city’s college savings 529 account unless their family chooses to opt out.
This is due to the recent expansion of the program from this year’s Fiscal Year 2027 budget that Mayor Mamdani and the New York City Council worked on. However, this is a program has been active across all five boroughs since the 2021–2022 school year, meaning that those older kids also have a savings account, but simply with a smaller amount of money invested in it. This program is designed to make higher education more accessible for all students, regardless of family income or immigration status.
How Parents Can Activate the Account
Although students are enrolled in the program automatically, parents are still recommended and encouraged to activate their child’s scholarship account to track its progress.
To activate your account:
- Visit the NYC Kids RISE Savings Tracker.
- Enter their child’s home ZIP code.
- Provide the child’s date of birth.
- Enter the child’s nine-digit Student ID number (which can be found on a report card, obtained from the child’s school, or accessed through the NYC Schools Account).
- Create a profile using their name, email address, and a password.
Families whose children are entering kindergarten for the first time will be able to activate their child’s account after receiving notification from their school. Additionally, families do not need to provide a Social Security number, Individual Taxpayer Identification Number (ITIN), bank account, or credit card information to participate.
New York City’s Future
The expansion of the program was highlighted as one of the city’s most significant investment in education for the Fiscal Year 2027 budget. With City Council Member Julie Menin calling it a historic achievement since New York City now has the largest college savings program in the country.
“We see this as the best way to address income inequality,” Menin said. “That investment will continue to grow and compound over time.”
The initial $1,000 is deposited into New York State’s 529 Direct Plan, a tax-advantaged investment account created specifically for educational savings. And as the money remains invested, it will continue to grow over time and be used later for higher education expenses, including tuition, books, and fees.
Menin also pointed out research that showed the impact of college savings accounts. “Students with a college savings account are three times more likely to attend college than students who don’t have one, and earn double the wages over the course of their lifetime,” she said.
By giving every eligible child a financial head start, the hope is to encourage students to see a higher education and career training as an attainable goal.
