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Mayor de Blasio Announces First Community Scholarship Donation for NYC’s Universal Baby Bonds

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November 18 2021

Mayor makes its first community-funded donation to kindergarten at Brooklyn Gardens Elementary in eastern New York and begins at the end of the year with a campaign for NYC Baby Bonds Community Scholarships

Community Scholarships advance City’s work to reduce the racial wealth gap, and expand educational and economic opportunities for all students

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The video is available at: https://youtu.be/pBaVZyaOrjs

New York—Mayor de Blasio today celebrated its first community grant donation since launching the citywide global “Baby Bonds” program in New York City and kicked off its year-end community giving campaign, delivering “Baby Bonds” and its first kindergarten community grants at Brooklyn Gardens Elementary School in eastern New York . Community grants—an essential component of the program—can help address the racial wealth gap and enable local organizations, businesses, neighbors, and other institutions to contribute to students’ college savings accounts and invest directly in each child’s success.

“This administration began with a vision — to improve and expand the education of our youngest learners,” he said. Major Bill de Blasio. “With Pre-K for All, 3 K for All and Universal Literacy, we are ensuring that all of our children have access to quality early education and the skills needed to succeed. The expansion of Global Children’s Bonds marks a historic end to this investment, and ensures that our children have the resources to thrive. Now, with Community grants, every community can participate and invest in their children and help build a more equitable future for future generations.”

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Contributing to the Baby Bonds Program is an excellent way to tell our children: You are valued and worth the investment. With these connections, the child has the initial infrastructure for dream formation.” First Lady Cherlene McCray. These investments help ensure struggling families get a solid and tangibly significant start in savings for college or training programs for jobs after high school. The Community Grants Fund says clearly to our children and their families: We believe in you and we believe in your future. ”

The city’s Connect Kids program demonstrates that racial disparities in access to universities can be addressed through collective investment and innovative policy making, Deputy Mayor for Strategic Policy Initiatives c. Philip Thompson. “The Racial Inclusion and Equity Task Force was proud to announce the expansion of this program via the Juneteenth Economic Justice Scheme, and I congratulate the Kindergarten children and their families at Brooklyn Gardens receiving their money today.”

“This is a landmark investment in the future of New York City students and will provide every child with the opportunities, resources, and support they need to achieve their dreams. I am grateful to our partners at NYC Kids Rise and community support for helping us make this a reality for every student in kindergarten across the city,” School counselor Misha Porter.

“Community grants provide a way for all communities to invest in youth and enhance expectations for college and career,” said Sadia Sherman, Executive Director, Racial Inclusion and Equity Task Force, and Executive Vice President of Community Engagement and Partnerships, NYCHA. “We are grateful to our partners at NYC Kids Rise and the Gray Foundation for helping us build a foundation that will transform generational outcomes for families across our city.

Earlier this year, the mayor announced a citywide expansion of the NYC Kids RISE Save for College program, as part of the Task Force on Racial Inclusion and Equality in the Juneteenth Plan for Economic Justice. As the program begins this academic year, individual donors and community groups apply to make extra money for students. This contribution will double the city’s initial investment of $100 per student in Kindergarten at Brooklyn Gardens Elementary School with a New York City Scholarship Account, beginning the year-end campaign.

In partnership with Mayor’s Fund, the city invites businesses, foundations, foundations, and individuals to contribute at the end of the year to give a boost to community grants and help make college and career success possible for all students. 100% of proceeds will go directly to students’ accounts through NYC Kids RISE. Research shows that kids with a college savings account between just $1 and $500 are three times more likely to go to college and four times more likely to graduate.

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With an initial investment of $15 million from the Gray Foundation, New York City became the first major city in the country to implement this pioneering model of community wealth building that provides pathways for stakeholders within every neighborhood and across the city—including schools, community and local organizations, businesses, the private sector, and organizations Charitable – To contribute to building assets and enhance community-wide expectations for students’ success from their first days in school.

Many communities of color and low-income communities have been left out of wealth-building opportunities. Through the Save for College program, every public school kindergarten (including participating charter schools) now has an opportunity to build assets for college and post-high school apprenticeships, and all New Yorkers have a way to tangibly support children’s educational futures in their community.

“As a parent, I know that thinking about our children’s future can be stressful – especially if you are not able to afford higher education,” Department of Consumer Protection and Labor Commissioner Peter A. Hatch. “Expanding this program from an idea here at DCWP years ago to what is now a citywide program to help all public school students is truly an invaluable investment in our city’s future. By making higher education more equitable and attainable, we are empowering the next generation of Freedom from student loan debt.

“Baby Bonds will be a historic investment in the higher education of New York’s children and will ensure a brighter future for everyone, no matter what your zip code,” said Daniel Bayerlin and Jorge Luis Paniagua Valle, co-executive directors of the Mayor’s Fund for the Development of New York City. “We look forward to an ongoing partnership with City, NYC Kids RISE, local organizations, businesses, and our neighbors to make higher education a reality for all New York students.”

“Community scholarships are a cornerstone of the Save For College program and send an important message to the children of our city: They have a broad base of supporters investing in their future,” Dana Zucker, Chair of the Board of Directors of NYC Kids RISE and Executive Director of the Gray Foundation. “This initiative from the Mayor’s Fund is an example of how New Yorkers from every corner of the city can engage to expand opportunities for all our children. We are pleased to partner with Mayor and New York City, Chancellor Porter and the New York City Department of Education, and the Racial Inclusion and Equity Task Force to continue building financial assets Meaningful for the future of children across the city

“Save for College is designed to allow every part of a child’s community — from schools, to local businesses, to civic organizations and places of worship — to come together to show support for their children and invest in their future together,” she said. Debra Ellen Glickstein, CEO, NYC Kids RISE. “Community scholarships, like the one announced today from the Mayor’s Fund, are essential to this process. By demonstrating clear and tangible citywide support for every child’s future, we send a clear message to our children that we are behind them every step of the way in their college and career journey. We look forward to continuing this partnership between the public, private and community sectors to help ensure that students and families have access to the tools needed to build wealth, enhance the expectations of success for all our children, and prepare them for their educational and economic future.”

“The Community Scholarship Fund is an ideal way for people in all walks of life to come together to support the children of New York City, as they provide not only financial support, but also a strong message that the city supports them, and believes in the potential for all the children of our city,” Matthew Klein, Executive Director of the Mayor’s Office of Economic Opportunity. “Kids Rise’s global expansion has created a true platform for building community and investing in each other.”

“Baby Bonds is a wonderful reinforcement of my neighborhood and a sincere commitment our city has made to kindergarten at Brooklyn Gardens Elementary School in eastern New York,” he said. US Representative Yvette Clark. “Nothing matters more than making sure our children are equipped with the tools they need to grow academically, as well as in their communities and the lives of their families. And this opportunity to advance those historically excluded from equal participation in our society and economy is only possible thanks to Mayor de Blasio’s leadership and management. When we empower people To reach their potential to overcome societal obstacles that hold them back, we all win. Through this Community Scholarship Fund, 53 young people will have the opportunity to continue their education and transform their lives and communities. This is exemplary leadership coupled with a fundamental commitment to improving the lives of marginalized people who are left behind. Thank you Mayor de Blasio for your continued dedication to this necessary cause and the future of New York City, our country, and our children.”

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“Unlocking opportunities for our children’s future will require a generational effort and I am proud that we were able to secure state support for this purposeful program by working with NYC Kids RISE and the Astoria Home Tenants Association, which led the way in its creation. I am pleased that the city is expanding it further and look forward to its successful implementation. ” Senate Vice President Michael Giannaris.

“Asset building is an essential component for community development and upward economic movement,” he said. Senator Roxanne J. Persaud, Chairman of the New York State Senate Social Services Committee. “Early investments in these 53 young adults attending Brooklyn Gardens Elementary School help provide income security for this next generation of leaders.”

“When we first envisioned Connections Kids when I served as Commissioner of the Department of Consumer Affairs and founding president of NYC Kids Rise, we knew we could change young people’s lives by increasing their access to college and creating a community-funded model to invest directly in every child’s future. With today’s announcement, We are one step closer to realizing our dream of a comprehensive child savings program that allows communities to directly influence every child’s success.” Former Administrator of Consumer Affairs and Constituent Assembly of NYC Kids President Julie Menin.

You often hear in black and brown societies that education is the great equalizing factor; However, financial barriers in our black and brown communities often prevent our students from earning a college degree.” Dr. Patricia Ramsay, President of Medgar Evers College. So, I’m thrilled to see the mayor and New York City investing in higher education early, through the Baby Bond Initiative. I was so excited to have the “Big Five” Kindergarten kids walk across the podium to receive their promise of hope for a higher education that will make a difference in their lives and the lives of their families.

“We applaud the Mayor for planting this program that provides a pathway for New York City kids to generate asset buildup,” he said. Darek Hamilton, Henry Cohen Professor of Economics and Urban Politics, and founding director of the Institute for Race, Power, and Political Economy at The New School. “We look forward to building on this momentum and working to ensure that additional progressive grants are directed in a way that eliminates the inequality into which children are born.”

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