Creating College-Bound Identities: How CSAs Put College in Reach
The 1:1 Fund is a program conceived and capitalized by Prosperity Now that matches special Children's Savings Account (CSA) deposits dollar-for-dollar.
Mariko and Miguel Garcia are proud immigrants that have lived in El Monte, CA, for 10 years. They lived a comfortable life until the arrival of their children Diego, Diana and Miguel. With an increase in the cost of living, they realized savings for their children’s college education needed to be a priority. Through Mariko’s involvement in her children’s school she was able to discover the Scholars Savings Program, a 1:1 Fund partner organization, and after a discussion with her husband Miguel they both decided to open accounts for all of their children.
Today, Diego, Diana, and Miguel know that they each have a savings account specifically for their college education. Every day, they wake up motivated, knowing they have a responsibility to try their best to meet their academic goals. They are not afraid to dream big. When we ask what they want to be when they grow up, “I want to be an astronaut”, answers Diego, “and I’m going to be a veterinarian,” says Diana. Miguel is in first grade and loves numbers, and although he is unsure of what he wants to do in the future he would like to work in a bank. These accounts help low-income families save for college while giving them the confidence that post-secondary education is a real and attainable goal.
They all confidently set goals for the future and are working to achieve these goals because they know they parents are making an investment in their future with a dollar for dollar matched donation from the 1:1 Fund through the Scholars Savings Program.