LIC students get cash infusion for college savings

Students in a Dutch Kills elementary school are getting a boost to their college savings. Photo courtesy of Kids Rise

By Rachel Vick

More than 100 Long Island City elementary school students will benefit from a cash infusion to their college savings accounts through NYC Kids Rise, the organization announced last week.

A $15,000 boost from Sterling National Bank will support  the academic futures of 112 first through fourth graders enrolled in the Save for College Program at P.S. 111.

“We believe an investment in our children and our community is an investment in the future of our city,” said Bea Ordonez, the chief financial officer for Sterling National Bank. “We are proud to partner with NYC Kids RISE to fund a Community Scholarship for the children at P.S. 111 in Queens, and to… show  these students – and their families – that we are all committed to their long-term success.” 

The bank will also host a series of virtual “College & Career Sessions.”  for third graders to encourage aspirations and give them an opportunity to hear about the career paths of bank staff.

Students at the school have cumulatively received nearly $50,000 through rewards and Community Scholarships, which are put into a 529 savings account as part of a now-citywide program that began as a pilot program in District 30.

"It’s important to me that my children can go to college to pursue their dream careers, and the Save for College Program makes this goal more achievable for us,” said Yohara Morgan, P.S. 111 PTA President and Save for College Program parent. “I mention the program to every parent I meet and look forward to seeing the Save For College community grow in the years