Youthprise’s Interim Policy Director, Kristy Snyder, testified on March 26th at The Minnesota House of Representatives on the MinneKIDS Act (HF2864), a proposed statewide children’s savings account program to support the attainment of higher education and career training. If passed, MinneKIDS would work with families to open a custodial account for every child born in Minnesota, using a $50 deposit ($100 for low-income families) to start the account. Research by Dr. William Elliott at the University of Michigan shows that children from low to moderate-income backgrounds who have more than just $1 in a savings account are 3x more likely to go to college and 4x more likely to graduate. If passed, MinneKIDS would impact approximately 70,000 children annually. Let's make it happen, Minnesota!
View the full hearing at bit.ly/3ZeUICc