More than 1,300 Boston Public Schools (BPS) families have earned a total of $32,825 for their children’s futures through a special New Year’s promotional offer from Boston Saves, the City of Boston’s children’s savings account program.
Boston Saves announced the promotion this January to encourage families of BPS K2-2nd graders to log in to its online savings platform. Families who logged in for the first time by month’s end earned an extra $25 for their child’s account. This money, plus the $50 that comes in every Boston Saves account and any additional incentives families may earn, can be used to pay for their child’s college or career training someday.
Notably, 40% of the new logins generated by the promotion came from families of students in 1st grade or higher. These families, who had long been eligible for the program, can now take advantage of the program’s many benefits.
When a family logs in, they can:
- See the money in their child’s Boston Saves account
- Link their own financial account to the Savings Center to track all their savings for their child in one place
- Earn more money for their child’s Boston Saves account by taking simple steps like reading with their child, or saving regularly