Boston Saves is a children’s savings account program that helps families of BPS students save and plan for their children’s college or career training from K2 kindergarten onward.
Through Boston Saves, every K2 kindergartner in BPS gets an account with $50 for their future college or career training. Families can get even more money for their child, called Boston Saves Dollars, and track those savings in the Boston Saves Savings Center. Along the way, students and families can learn more about how to make the most of their money to plan for the future!
Currently, all K2 and 1st-grade students in BPS have Boston Saves accounts.
Which students have Boston Saves accounts?
Every child entering K2 kindergarten or 1st grade at BPS district schools will receive a Boston Saves account. At certain Boston Saves “pilot” schools, students in higher grades will also have accounts because their schools started the program earlier. See the chart below for details.
Eligible Grades SY2020-2021
All SchoolsK2-1stGardner PilotHaynes EECKing K-8Mattahunt Elem.West Zone ELCWinship Elem.
K2-3rdConley Elem.Harvard-Kent Elem.McKay K-8Otis Elem.Roosevelt K-8K2-4th
Students who belonged to an eligible pilot school cohort during the pilot (2016-2019), and have since left that school, also keep their Boston Saves account. See this table to determine if your child belonged to an eligible pilot cohort.
What if my child doesn’t have a Boston Saves account?
Your family can still benefit from the program’s free planning resources and events! Sign up for family updates to get alerts of these events. (The form is also available in Spanish, Cabo Verdean Creole, Vietnamese, Haitian Creole, Chinese, Portuguese, Arabic, Somali, and French.)
How does Boston Saves work?
Boston Saves gives every K2 kindergartner in BPS an account with $50 for their future. The money in this account is called Boston Saves Dollars and can be used to pay for a student’s future college or career training. You can think of a Boston Saves account as a piggy bank that can only be opened after a student finishes high school. Families can get more Boston Saves Dollars for their child’s account by taking actions that help plan for their child’s future. In this way, the money in a child’s Boston Saves account can start to grow.
Families can start saving their own money, too, by opening their own financial account (savings, 529, or checking) for their child’s future. When a family links this financial account to their child’s Boston Saves account online, they can see all of their savings for their child in one place: the Savings Center.
Through the Savings Center, families can also sign up to get tips and learn of new ways to get Boston Saves Dollars. Boston Saves also has fun events for families that make saving and planning easier.
Are you a family member of a Boston Saves student? Start saving and planning now!