Studies related to education have shown that students from families with a dedicated college savings account are four times more likely to attend college. But for those students who have a college savings account in their name, like the savings accounts established through the Matched College Savings Program (MCSP), they are seven times as likely to attend college
ICW’s MCSP rewards very low income students – at or below 200% of poverty level – for saving for their college education. Despite the financial challenges these ICW students and their families have faced, they have committed to the goal of earning a college degree, and by doing so, are making an investment in themselves, their communities and the future.
Through ICW’s MCSP, students at this income level have the opportunity to bridge some of the typical $8,000 per year gap between available financial aid (from all sources) and the cost of attending college. In addition to easing the financial burdens of tuition and reducing the amount of debt upon graduation for these students, the MCSP also teaches basic financial skills and reinforces the importance of goal-setting and financial planning so that they can begin building assets.