After 12 years of account maturation, the average high school grad walked away from San Francisco's public school system with about $1,400.
The City of San Francisco is boasting about savings accounts it started for kindergartners back in 2011. According to the city, those 2011 kindergartners who are now starting college each had $50 automatically deposited into a K2C savings account.The program was started by then-Mayor Gavin Newsom, who is now the state's governor. The account was seeded with $50 for every child entering kindergarten in San Francisco's public schools.
Of the 4,000 graduates who graduated from San Francisco's public high schools, 600 had accounts in the program. “We started K2C so that every student in our public schools would know that they have a future worth saving for,” said San Francisco Treasurer José Cisneros. “K2C is beginning to deliver on the promise that every child growing up in San Francisco has not only a dream for college, but a pathway.
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