- Cecelia Sanduval, a Lansing SAVES specialist, is giving back to her community through the Lansing SAVES program.
- The program teaches children about money and saving and provides free college savings accounts.
- Many families struggle with the rising cost of college, with three in four using savings or retirement funds to pay for it.
- The Michigan Education Trust reduced the cost of its 529 prepaid tuition savings plan to $25 to make it more accessible.
- Lansing SAVES aims to fund every student’s account with $500 before graduation.
After growing up in the Lansing School District, Cecelia Sandoval is now returning the favor.
"I love this community, and it's important to show them that we're here for you, we're here for your success," Sandoval said.
Building them up to head from one classroom to another…
"I want them to hear that college is available to everyone," Sandoval said.
The Lansing SAVES program helps make that possible.
It teaches children, starting in kindergarten, what money is, how to save, and…
"We give them a free college savings account here at the credit union for them to make deposits into," Sandoval said.
This is something parents in any school district may struggle with: battling the cost of college while managing the cost of gas.
According to Fidelity Investments, three in four families used income, savings, or retirement accounts to pay for college, despite concerns about inflation.
"You don't know what college prices are going to do in the future. You don't know what your child is going to do in the future," Barthelmes said.
Heather Barthelmes, marketing manager for the Michigan Education Trust (MET), heard from neighbors about how the cost of starting to save for college can be a barrier.
That's why the cost of the state's 529 prepaid tuition savings plan opening rate was reduced from hundreds of dollars to just $25.
"This way, even if you're still paying for daycare or diapers or, you know, all those expenses of young children, you can get that account opened, then friends and family can contribute to it," Barthelmes said.
Ultimately, Sandoval says the account isn't just about money for college but about the support that gets them there.
"There are people who are rooting for them, who are encouraging them, and want them to be successful. That's ultimately what we want," Sandoval said.
The Lansing SAVES program hopes to fund every student account with $500 before graduation.
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