The Greater Washington Community Foundation is funding student savings accounts for four separate cohorts of children in Maryland, two at a school in Montgomery County and the other two at a school in Prince George’s County.
From kindergarten through their senior year of high school, the foundation’s Brilliant Futures program will put $1,000 into an account in their name. If they go to school each year and successfully graduate, the students will have $13,000 to spend, whether on college tuition, starting a business or other wealth-creating endeavors.
The two schools involved are Montgomery County’s Jackson Road Elementary School in the White Oak area of Silver Spring, and Bradbury Heights Elementary School in Capitol Heights in Prince George’s County.
The pilot program consists of the 2024-2025 kindergarten cohort at Jackson Road and the 2025-2026 cohort at Bradbury Heights. The foundation also plans to extend the program a second year to the 2025-2026 class at Jackson Road and the 2026-2027 class at Bradbury Heights.
Students are not automatically enrolled into the program — parents or guardians have to meet with administrators at their child’s school to opt in. The pupils will only get the money if they graduate or complete an amount of school credits equivalent to graduating.
The Brilliant Futures program is set to give money to around 400 children. The participating populations of the two schools are 90% Black and Hispanic and are all eligible for their county’s free and reduced-cost meal programs, the foundation said.
“It’s neighborhoods that have, I would say, low life expectancy, high poverty, low homeownership,” GWCF CEO Tonia Wellons told Washington ABC affiliate WJLA earlier this month.
Data suggests that having the accounts improves educational outcomes for students.
From “as early as third grade, their academic accomplishments increase, their attendance improves and their graduation rates continue to excel and improve as well. They’re more likely — four times more likely — to go on to postsecondary education than students who do not have an account of any size in their name,” Ms. Wellons told Washington news-radio station WTOP.
• Brad Matthews can be reached at bmatthews@washingtontimes.com.
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