Boston Saves Provides Financial Boost to BPS Students, Setting them up Future Success

Boston Saves, a children's savings account program in Boston, incentivized families during the 2024-2025 school year with two key promotions aimed at enhancing financial awareness. The January promotion rewarded families of BPS K2-5th graders who logged into the online savings platform with an extra $25, resulting in 888 families receiving a total of $22,200. In Fall 2024, Boston Saves partnered with the Boston Housing Authority to offer an additional $500 to eligible families through a lottery, which benefited 268 students and totaled $134,000 in incentives. A second lottery in Spring 2025 further added to the incentives, resulting in an overall total of $250,000 for participating families. Since its inception in 2016, Boston Saves has set aside approximately $1,450,000 for over 28,996 students.

The program not only provides seed funding but also financial education resources to help families save for college or career training. Families are encouraged to log into their accounts to monitor their savings and explore future incentives. Boston Saves aims to ensure that all K2-5th graders in BPS have access to financial resources that support their educational aspirations.