NYC Kids Rise Scholarship Programs Help Fellow Students, Alumni Save For College – $400,000 Funded By Alumni Into Students’ Accounts In Its Inaugural Year! UPDATED

NYC Kids Rise Scholarship Programs Help Fellow Students, Alumni Save For College

Editor’s note: Staten Islander News has previously covered this program here and here.

Staten Islander News sat down with Debra-Ellen Glickstein, executive director for NYC Kids Rise, and with Mark Foggin, public school alumnus and scholarship donor. We spoke about the value and importance of education, and about the revolutionary concept that allows businesses and individual alumni of public schools to fund the next generation’s College savings accounts.  

The program currently covers kindergarten through second grade in schools across the city.  Anyone who is able to contribute alone (or together with a group or business) the minimum amount required can make a donation to fund these students’ bank accounts.  For some, this is a matter of nostalgia, as they’re providing those stepping stones and building blocks to a great future for the next generation.  For others, it’s a matter of giving these kids opportunities they themselves may not have had, and this can give kids the confidence to fulfill their own journey to a productive career.  

One of the most useful aspects of those accounts is their future flexibility. They can be used for college, university, trade school, apprenticeship programs, and other non traditional forms of higher education.  And research has shown that just knowing this account exists increases a child’s chances of going on to higher education after high school. 

The program’s expansion into all public schools across the city has great meaning for the next class of students attending elementary school. This account will stay with them throughout their career.  The students can even themselves speak with relatives and friends about the possibility of funding scholarships.  Businesses would be excellent partners in such endeavors, and these people often want to help but may not know how.  A good example is the deli owner we reported on who helped a junior high school student to achieve good grades. 

Mark is the Executive Director of the Arab-American Family Support Center who has known Debra-Ellen for many years. When he learned about the program, he was all in.  The non-profit he directs, the Arab-American Family Support Center, funded scholarship accounts for students in his own former elementary school. It has been a rewarding experience for him knowing that this donation will not only fund a student’s future, but it will also inspire them to achieve more.  

While Mark hasn’t yet met any of the students that his donation helped, he does plan to attend an event in the near future that will feature students from the class that were awarded the scholarship. Even without meeting them yet, he has had a positive experience with the program.  

Advertisement

Debra Ellen is very excited for the upcoming school year, when a whole new group of kindergartners will be given the scholarship accounts and offered the ability to add to their funds without cost (just by performing certain activities). Families can receive up to $175 in additional rewards for their children’s NYC Scholarship Account when they complete steps in the Program. They also match donations from the family into their child’s separately created and beneficially taxed scholarship account.  New enrollments start in January, and you can learn more at the NYC Kids RISE website

Here is some additional info on the research mentioned during the interview:

Debra-Ellen mentioned the stat about how research shows that children with a small dollar savings account are 3x times more likely to go to college.  Here is the link to the study that she is referring to in the video:  https://openscholarship.wustl.edu/cgi/viewcontent.cgi?article=1371&context=csd_research

Additionally, I also wanted to share a link to a brief that Debra-Ellen Glickstein co-authored with Willie Elliott, Professor of Social Work at University of Michigan, as a supplemental study that examines the success of the NYC Kids RISE Save for College program.

Following is the release about a new milestone achieved by the program a few months ago:

NEARLY $400,000 CONTRIBUTED THROUGH INAUGURAL NYC PUBLIC SCHOOL ALUMNI COMMUNITY SCHOLARSHIPS

Alumni from 34 NYC public elementary schools across the five boroughs contribute to the NYC Scholarship Accounts of more than 7,400 kindergarten, first and second graders

NEW YORK, NY (May 22, 2024) — NYC Public Schools Chancellor David C. Banks (P.S. 161 Alum), First Deputy Mayor Sheena Wright (P.S. 90 Alum), Brooklyn Borough President Antonio Reynoso, Gray Foundation Chief Executive Officer Dana Zucker, and NYC Kids RISE Founding Executive Director Debra-Ellen Glickstein today announced that 39 Alumni from 34 NYC Public Schools, along with a philanthropic match, have raised nearly $400,000 for more than 7,400 kindergarten, first and second-grade students from communities across New York City as part of the inaugural NYC Public School Alumni Community Scholarship.

This pioneering effort demonstrates how NYC public school alumni can tangibly invest in the futures of students, serve as positive role models, and showcase the diverse avenues of achievement for students. To date, more than 200,000 NYC public school students across the five boroughs (including nearly every kindergartner, first and second grader in public school) have a financial asset for college and career training with funds that collectively amount to more than $30 million.

Thanks to the ingenuity of several public school alumni, the NYC Public School Alumni Community Scholarship launched in late 2023, creating an opportunity to contribute funds to the NYC Scholarship Accounts of first and second-graders at their elementary school alma maters. Thirty-nine alumni from all corners of the city either raised or contributed Community Scholarship dollars in school year 2023-2024. Philanthropy, Coleman Family Ventures and the Gray Foundation, matched the dollars raised by Alumni and supported the Community Scholarship for the Kindergarten class. Contributions to students’ NYC Scholarship Accounts through the 2023 NYC Public School Alumni Community Scholarship ranged from $10 to $506.

“Students become what they see, and this allows alumni who used to sit in their very seats to demonstrate new possibilities for the future. We’re grateful to each alum, the Gray Foundation, and Coleman Family Ventures, and the participating school communities across the city for the incredible success of the first cohort of this new Community Scholarship, and we look forward to kicking off the second iteration later this year!” said NYC Kids RISE Founding Executive Director Debra-Ellen Glickstein.

“New York City Public Schools has a vast and diverse network of alumni, who are changemakers throughout the world. We are so grateful to those who find ways to give back to their communities and invest in our young people,” said Chancellor David C. Banks. “The NYC Public School Alumni Community Scholarship is just one of the ways alumni can contribute to students’ college and career futures as we work together to give our students bright starts and bold futures, and the Save for College Program is truly a testament to the power of community partnership.”

“The inaugural cohort of NYC Public School Alumni Community Scholarships is a powerful example of how important public school alumni are, and they are sharing much more than dollars and cents,” said First Deputy Mayor Sheena Wright. “The NYC Public School Alumni Community Scholarship is a tool for alumni who used to sit in students’ very seats to demonstrate new possibilities for students’ futures. We thank each alum and philanthropy for their contributions, and look forward to the next iteration of this Community Scholarship later this year!”

“The NYC Public School Alumni Community Scholarship is another shining example of how the Save for College program continues to build a strong village of support for our young people to discover and choose their own path,” said NYC Chief Equity Officer and Commissioner Sideya Sherman, NYC Mayor’s Office of Equity & Racial Justice. “I want to thank the alumni, the Gray Foundation, and Coleman Family Ventures for growing that village – one that is strengthening community connections, building wealth in our neighborhoods, and investing in the future of our city.”

“Having access to financial empowerment resources and support at a young age is key to ensuring a financially healthy adulthood,” said Department of Consumer and Worker Protection (DCWP) Commissioner Vilda Vera Mayuga. “Thank you to our partners at NYC Public Schools and NYC Kids RISE for sharing our commitment to making sure our children have the ability to pursue their goals and reduce future student loan debt.”

“For and by the community, the NYC Public School Alumni Community Scholarship is an outstanding initiative, key within the fight to make secondary education accessible to everyone,” said Brooklyn Borough President Antonio Reynoso. “Not only do Community Scholarships break down barriers for historically disenfranchised communities to achieve the education they unequivocally deserve, but they also share financial tools with families so students can begin saving for higher education as early as K to 2nd grade. Thank you to NYC Kids RISE, the Gray Foundation, Coleman Family Ventures, and all the incredible alumni for making this Community Scholarship possible and helping to open up pathways for our city’s students to achieve their dreams.”

“The NYC Public School Alumni Community Scholarship is an investment in our students, and we are proud to see several of our Bronx public school alumni giving back to their communities,” said Bronx Borough President Vanessa L. Gibson. “I want to thank Mayor Eric Adams, NYC Public Schools Chancellor David C. Banks, First Deputy Mayor Sheena Wright, the Gray Foundation, Coleman Family Ventures, and NYC Kids RISE for their work on this important initiative and continued commitment to providing our New York City youth with the tools to excel and overcome barriers to their academic success.”

“Investing in the future of our youth is invaluable, so I’m grateful to the alumni and donors who are giving back to the community by supporting these NYC Kids RISE scholarships,” said Manhattan Borough President Mark Levine. “Every dollar that gets invested now will make an even greater impact when these students graduate high school 10 years from now and go on to the next stage of their education.

“It takes a village to not only raise a child, but to provide that child with the best education possible. To that end, I couldn’t be more grateful to the dozens of NYC Public School Alumni Community Scholarship contributors who have stepped up to support our youngest students at their alma maters, both with dollars and direction,” said Queens Borough President Donovan Richards Jr. “Congratulations to NYC Kids RISE and NYC Public Schools on reaching this milestone, proving the critical importance of this program.”

“Creating a brighter future for our children is a community effort that includes the participation of our public school alumni and philanthropic partners,” said Speaker Adrienne Adams. “Through the generosity and contributions of local alumni, thousands of young students will benefit from donations for their NYC Scholarship Accounts, which support their future educational and personal growth. I thank NYC Kids RISE, the Gray Foundation, and Coleman Family Ventures for their partnership in support of our scholars, and I look forward to even more alumni giving back to our city’s students.”

“The NYC Kids RISE Save for College Program is an incredible tool for communities across New York City to build wealth and support our children,” said Councilmember Julie Menin. “I am so inspired to see the ways in which NYC Public School Alumni have come together to give back to the communities where they got their start. I can’t wait to work with my colleagues to build on this momentum in the future.”

“The amazing alumni who are leading this campaign are proof that by working together, we can ensure that all kids in NYC grow up knowing their community supports them and they have a real financial asset for their future,” said Dana Zucker, Chief Executive Officer of the Gray Foundation and Chair of the Board of NYC Kids RISE. “I look forward to even more NYC public school alumni giving back to their schools, and demonstrating the best of NYC coming together in support of our children.”

“My years at P.S. 69 absolutely shaped who I am today, and as a proud alumnus, it’s a privilege to give back to the school community through an alumni Community Scholarship,” said Murray Abeles, P.S. 69 alum and Chief Financial Officer at The Public Theater. “This is the best possible investment, and I can’t wait to watch these resources grow alongside the young children who will one day use them to chase their college and career dreams.”

“Access to an excellent education unlocks doors to economic mobility and success, and I am thrilled to play a small part in that by creating an Alumni Community Scholarship for the students at P.S. 30 in the South Bronx,” said Jemina Bernard, P.S. 30 alumna and President & Chief Operating Officer at Teach For America. “In the same way that my P.S. 30 second grade teacher, Mrs. Schwartz, did for me, I want to support children learning in the same classrooms I once did, and help provide tangible ways to ensure they know that any dream is possible.”

“I have watched the NYC Kids RISE Save for College Program in Queens for many years. It has been a long time coming to Brooklyn, and now that it is here, I am committed to leveraging this unique wealth building platform to support our children.” said Quardean Lewis-Allen, P.S. 135 Sheldon A. Brookner Alum and Founder and Executive Director of Youth Design Center. “Through the NYC Public School Alumni Community Scholarships, students have proof that their friends and neighbors are invested in their success. I am proud to support the students at my alma mater at P.S. 135 Sheldon A. Brookner!”

“There are great minds sitting in the small chairs of Kindergarten, first, and second-grade classrooms at my alma mater P.S. 181 and all across the five boroughs, and it’s up to all of us to empower their learning and growth! The NYC Kids RISE Save for College Program is an incredible tool to support our children to dream big for the future and provide real resources to support their dreams. I am proud to be a part of the inaugural year of the NYC Public School Alumni Community Scholarship and I celebrate and salute the incredible futures of our students. I encourage New Yorkers across the city to honor where they came from by doing the same,” said Lisette Nieves, P.S. 181 alumna and President of the Fund for the City of New York.

“The definition of giving back to the community is a Community Scholarship from a NYC public school alumnus.  It is easy to overlook the value of financial support for public school students and their families during the pre-college years. That pattern is history! I am proud to be part of this important initiative and proud to support my elementary alma mater, Brooklyn’s P.S. 9!” said Chris “Oledude” Owens, P.S. 9 alum.

“The Save for College Program provides a mechanism by which we can all come together to support all our children. The inaugural NYC Public School Alumni Community Scholarship demonstrates just how powerful the platform really is–a first-of-its-kind vehicle for NYC Public School Alumni to give to the students from the school communities that helped get them where they are today,” said Randy Peers, P.S. 114 alum and Brooklyn Chamber of Commerce President & CEO. “In addition to actual dollars, it provides a way for alumni to showcase to students possibilities for their future. I am proud to have been a part of the inaugural effort and look forward to building on this momentum in the years ahead.”

“I’m a huge proponent of financial literacy and getting involved when compelling opportunities come around! So, when NYC Kids RISE presented this idea to help fund 529 accounts via an inaugural Community Scholarship at my alma mater P.S. 126X in the South Bronx, it was an automatic ‘Yes!’ I was born and bred in Highbridge so this was a really cool and meaningful way for me to support the community I hail from and I’m looking forward to doing more in the future!” said Jaleni Thompson, P.S. 126X alum and Director of Strategy at Moody’s Analytics.

“P.S. 148Q showed me what it means to be part of a community that supports and encourages you, regardless of your circumstances. I’m grateful to my community of alumni, teachers, neighbors, elected officials and so many others who joined me in contributing to 300 students’ financial futures. There’s nothing more powerful than showing young people that we are invested in their success. Thank you to NYC Kids RISE for helping make this possible through the Save for College Program and to Coleman Family Ventures and the Gray Foundation for their philanthropic match,” said Carolina V. Valencia, P.S. 148 alumna and Director of Partnerships for Epicenter NYC.

NYC Kids RISE strengthens connections between alumni and local schools by working with participating alumni to create messages to share their college and career journeys with current elementary school students of their alma maters. For example, throughout this year, alumni have shown how an interest in math can lead to a career in finance, or an interest in student government could lead to a career working in government. At the heart of the Save for College Program, NYC Kids RISE works closely with communities to create and share social and financial capital, whether through after-school programs, job readiness and career training, or access to financial tools and capital to reach their educational and financial goals.

The NYC Public School Alumni Community Scholarship is part of the NYC Kids RISE Save for College Program, a community tool New Yorkers can use to build wealth in their neighborhoods and support the college and career dreams of their children, no matter their family income or immigration status. Every student enrolled in NYC public elementary schools (including participating charter schools) starting in kindergarten, automatically receives an NYC Scholarship Account invested in a 529 Account with an initial $100. Families can receive up to $175 in additional rewards for their children’s NYC Scholarship Account when they complete steps in the Program – when they activate the account, open their own college and career savings account, and start saving their own money in the ways and amounts that make sense for them. Community Scholarships, a central element of the Program, are a way for local organizations, businesses, houses of worship, neighbors, and other New Yorkers, institutions and systems to raise and direct money to students’ future college and career training. Anyone can contribute to and/or launch a Community Scholarship, and each one reinforces expectations of students’ success and shows children that their community supports their dreams.

Investments from the inaugural NYC Public School Alumni Community Scholarships build on the belief that NYC Scholarship Accounts should be viewed not merely as personal financial assets, but as community-driven savings accounts.

The alumni contributions build on other Community Scholarships across the city: To date, more than $4.5 million has been funded through 89 Community Scholarships received by students participating in the Save for College Program.

In the fall, NYC Kids RISE will launch its second cycle of the NYC Public School Alumni Community Scholarship with the hopes of having more alumni involved and raising even more money for public school students’ NYC Scholarship Accounts. Other public school alumni and anyone interested in supporting the college and career futures of elementary school students in New York City neighborhoods can contribute to students’ NYC Scholarship Accounts through a donation to NYC Kids RISE. For information on how to provide an NYC Public School Alumni Community Scholarship for students at your former elementary school, contact [email protected].

Banner Image: Video cover. Image Credit – Staten Islander News