Ideas

Tishaura Jones
Mayor | St. Louis, MO

College Savings Program

Idea Category: Equity & Opportunity, Safety Net

Problem

In our modern economy, a college degree is still the primary way that children can become self-sufficient and contributing adults. Unfortunately for many students -- especially in low-income areas -- lack of sufficient savings for college has been a barrier to higher educational attainment, limiting opportunities for future economic success.

Solution

Treasurer Jones is proposing to provide each child entering Kindergarten in a public school in St. Louis a seed account with $50, which they would have the chance to build upon via financial incentives for good grades, perfect attendance, and family participation in a financial wellness program. Studies show that kids with savings accounts are more likely to enroll in and graduate from college, and therefore become meaningful contributors to the economy. Children's Savings Accounts (CSAs) also have the capacity to change an entire family's mental, emotional, and economic health with spillover effects changing the family's spending and saving patterns.

More Idea’s From Tishaura Jones

Renters’ Right to Counsel Program

Idea Category: Housing | Funding Source: ARP

Missouri: St. Louis Mayor Tishaura Jones Released Plan of American Rescue Plan Funding to Improve Street Safety

Idea Category: Infrastructure, Public Safety, Transportation | Funding Source: ARP

ARP: St. Louis MO, Determined to Keep Residents In Their Homes

Idea Category: Housing | Funding Source: ARP

ARP: St. Louis MO, Pledges $5 Million to Help Small Businesses

Idea Category: Jobs and Entrepreneurship | Funding Source: ARP

ARP: St. Louis MO, Youth Engagement & Violence Prevention

Idea Category: Criminal Justice, Equity & Opportunity | Funding Source: ARP

St. Louis creates LGBTQIA+ Advisory Board to guide city initiative

Idea Category: Equity & Opportunity | Funding Source: ARP

Employee Financial Wellness

Idea Category: Safety Net | Funding Source: ARP

Employment Financial Empowerment Lunch and Learn Series (EFELLS)

Idea Category: Safety Net | Funding Source: ARP