SeedMA is a universal, seed-funded savings account program, designed to help Massachusetts children and families save for higher education and postsecondary training. The program, presently in the pilot stage, is open to every Kindergarten student enrolled in the Worcester Public School System for the 2016-2017 school year. Eventually this savings plan will become available to every kindergarten student in Massachusetts.
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We are now accepting applications for the SeedMA Fellowship program. Learn more here
SoarMA is a two-year pilot program, that offers seventh grade students seed-funded savings accounts. This initiative is designed to help low-income Massachusetts children and families save for postsecondary education and training. The program, funded through public-private partnerships, will provide a matched savings program and a financial education curriculum. These 529 college savings accounts will be offered through the Office of the Massachusetts State Treasurer and Receiver General, in collaboration with the Massachusetts Educational Financing Authority (MEFA) and Inversant.
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The SoarMA program’s pilot communities are the “Round II” Massachusetts participants in the Federal Reserve’s Working Cities Challenge grant program. Those cities include Haverhill, Lowell, Pittsfield, Springfield, and Worcester.
The program will be opened to all eligible seventh graders enrolled in the following middle schools starting in the 2017-2018 school year:
- Haverhill: Consentino Middle School
- Lowell: Stoklosa Middle School
- Pittsfield: Reid Middle School
- Springfield: South End Middle School
- Worcester: Worcester East Middle School
A Financial Education Fair is a fun, interactive, and effective way to teach critical life skills like saving, spending, and budgeting to high school students. Participants simulate the day-to-day budgetary decisions they will face based on assigned occupations and financial situations, including finding an affordable place to live, saving for retirement, and even budgeting for a new television set.
Photo Courtesy of Brockton Enterprise