New research shows that K2C is closing 30% of the college enrollment gap for underrepresented students
Posted September 16, 2024
Washington, DC – San Francisco Treasurer José Cisneros today announced results from new research demonstrating the effectiveness of the Kindergarten to College (K2C) program, which provides every child entering kindergarten with a Children’s Savings Account (CSA) seeded with $50 toward their future education. Students with a K2C account are significantly more likely to enroll in college, with the greatest benefit for underrepresented students.
“When we launched K2C, I kneeled in front of a bright-eyed group of 6 year olds and told them I believed they could go to college,” said San Francisco Treasurer José Cisneros. “Now, 13 years later, I’m so thrilled to see these results - K2C helps all San Francisco students believe they have a future worth saving for.”
The first class of kindergartners who received K2C accounts in 2011 graduated from high school in 2023. In the class of 2023, students with a K2C account were 6% more likely to enroll in college overall, as compared with similar students from the class of 2022. This effect was largely driven by gains among underrepresented students—Black/African American, Hispanic/Latino, Filipino, Pacific Islander or American Indian/Alaskan Native— who were 12% more likely to enroll in college. K2C closed 30% of the college enrollment gap between underrepresented students and those from represented groups.
“Since my days as San Francisco’s mayor, the Kindergarten to College (K2C) program Treasurer José Cisneros and I established has not only helped make it financially possible for every student in San Francisco to access college, but also increased graduation rates and college enrollment,” said Governor Gavin Newsom. “The success of this program is what inspired CalKIDS -- a universal college savings account program I started to ensure that every California student has support for college. When we invest in our kids, we invest in our state’s future.”
K2C is also closing 29% of the gap in on-time high school graduation rates for underrepresented students. K2C students from underrepresented groups were 7% more likely to graduate on time compared to a similar group of students without accounts.
“San Francisco’s Kindergarten to College (K2C) program is the result of years of tireless work and advocacy from Governor Newsom and San Francisco Treasurer José Cisneros. It’s a wonderfully effective program and it is exciting to see it reaffirmed by the results of this study,” said California State Treasurer Ma. “As we know from our CalKIDS program, these accounts don’t just increase the chances of success for our children, but they encourage parents and families to think about the future, to make a plan, and to make an affirmative choice to save for long-term success.”
The findings released today are statistically significant and control for key factors such as gender, race, and language status, as well as median income by zip code. These are preliminary findings from a comprehensive evaluation of the program, with more data expected over the next two years. The research was co-authored by William Elliott and Megan O'Brien, researchers from the University of Michigan School of Social Work, and Nicholas Sorenson, CEO of Summitlab. A full research brief is available here. The evaluation is funded by the Charles Stewart Mott Foundation.
“K2C is clearly transforming lives and empowering our City’s students,” said Mayor London Breed. “We must continue to invest in future generations through effective programs, just like K2C. Thank you to Governor Gavin Newsom for establishing K2C, and to Treasurer José Cisneros for your continued work.”
K2C was founded in 2011 by then-San Francisco Mayor Gavin Newsom and Treasurer José Cisneros. K2C utilizes the Citi Start Saving® platform to automatically open a K2C account seeded with $50 in public funds for every child entering kindergarten in public school, putting students on a path to college from their first day of school. There are more than 54,000 students with a K2C account, who as of today have $17 million saved for post-secondary education. The program is funded by local, state and philanthropic funding.
“These new findings, with data from actual CSA participants strengthen our confidence in the effectiveness of programs like K2C as a policy strategy for improving children’s postsecondary outcomes. They have implications not only for children living in San Francisco, but they have implications for children participating in California’s statewide CSA program, CalKIDS” said co-author and professor at the University of Michigan, Willie Elliott.
K2C has demonstrated that universal and automatic CSA programs are possible, effective, and scalable and has inspired similar programs across the country. There are more than 120 active CSA programs reaching nearly six million children in 39 states, including municipal programs in Oakland, Los Angeles and New York City, and statewide programs in California, Maine, and Pennsylvania. In 2022, California launched the CalKIDS program, a statewide CSA program for every baby born in California and for low-income public school students.
“The Mott Foundation has long believed early investments in families can have significant and positive payoffs for children, communities and the country as a whole,” said Ridgway White, president and CEO. “We now have research confirming that CSAs are an effective way to help young people achieve a brighter future. We’ve been proud to support this pioneering work since the beginning, and we celebrate K2C’s achievements today.”
“Saving for college from an early age changes the conversation in families from ‘if’ a child will go to college, to ‘when’ they will go to college,” said Brandee McHale, Head of Community Investing and Development at Citi and President of the Citi Foundation. “At Citi, we have been proud to play a role in Kindergarten to College, which continues to exemplify how Children’s Savings Account programs can expand young people’s economic and educational opportunities.”
For more information about the K2C program, visit: https://k2csf.org