— by Kate Marshall, NV State Treasurer
The Nevada College Kick Start program establishes $50 in a college savings account for every kindergarten child in Nevada’s public schools. This year approximately 35,000 accounts will be opened with the goal of creating a college bound culture here in Nevada.
Studies have shown that children who have a college savings account in their name are 7 times more likely to attend an institution of higher learning. It is important to note that even a small account improves a child’s determination and preparedness for college and higher education, regardless of family income, ethnicity, or the educational attainment of the child’s parents.
The accounts (funded without tax payer dollars) will accrue interest for 13 years and can only be used for qualified higher education expenses at any institution in the United States. The Nevada College Kickstart program will also encourage families to begin saving for college earlier rather than later.
According to The Future Ready Project,
“81% percent of U.S. jobs are middle- or high-skilled – and require at least some postsecondary education, be it a two-year or four-year degree, technical certification, apprenticeship or another training program.”
Yet, only 30% of Nevadans have a postsecondary education according to the Georgetown University Center on Education and Workforce.
With the costs of a college education escalating it is important to reachout to Nevada’s hard working families and offer a path for their children’s future. Nevada families that open a college savings account are also eligible to receive matching funds up to $300 a year.
The Nevada College Kickstart is just one step in a series in our progress towards making Nevada a premier state to learn, live, and play.