New to K2C? Start here.
What is Kindergarten to College (K2C)
K2C is a college savings initiative by the City and County of San Francisco, in partnership with the San Francisco Unified School District (SFUSD), for kindergarteners entering SFUSD public schools. A K2C account is opened for each eligible student when starting kindergarten, containing an initial incentive of $50 from the City and County of San Francisco. Children, families, other individuals or organizations can contribute to the account throughout the student's K-12 years. Students are also able to earn incentives as they are available through the program.
When did K2C begin?
The first pilot year of K2C began with the 2010-2011 school year with a limited number of Kindergarteners in the San Francisco United School District (SFUSD). The Program expanded to more students entering kindergarten in the SFUSD in the 2011-2012 school year. K2C became available to all students entering kindergarten in the SFUSD in the 2012-2013 school year and now continues to do so every school year.
Who is behind K2C?
K2C is a partnership of the San Francisco Mayor’s Office, the Office of the Treasurer, the Department of Children, Youth, & Their Families and the San Francisco Unified School District.
Why was K2C started?
Studies have shown that students with college savings accounts in their own names are several times more likely to make it to college. Even students with less than $500 in their accounts are three times more likely to attend college and four times more likely to finish. We want to give every child a chance to make college a reality.
How does the K2C Program work?
When your student starts kindergarten, the City and County of San Francisco sets up a K2C account for your student with a $50 initial incentive from the K2C Program. The K2C account is used to keep track of contributions and incentives associated with each student. Shortly after school begins, a welcome kit for the K2C Program will be sent home to you explaining the details of the Program. Once you receive your K2C account card, you can start saving for your student.
How do I know if my child is participating?
All SFUSD students starting kindergarten in school year 2012-2013 or later can participate in the K2C program. Some students who started kindergarten in the 2010-2011 and 2011-2012 pilot years may have had accounts opened for them. Contact K2C directly if you are unsure of your student’s participation.
I lost my child’s account identification card. How can I get my child’s account information?
Fill out this online form to request a new account card sent by mail or to request your account number by email.
Making Deposits and Saving
What is a Contribution?
Contributions are money deposited into the K2C account and designated for the benefit of a specific student.
How do I contribute to my child’s K2C savings account?
Families can make contributions in the K2C account for their student’s benefit either in person (by visiting a Citibank Branch in San Francisco), online (through online bill pay), direct deposit through their employer, or by mail (by sending a check to K2C). Students, extended family, and friends can contribute also.
How do I make cash or check deposits in person?
Deposits can be made with the student’s name and student’s account number. For a cash deposit, you will also need to provide one valid government-issued photo ID and other identifying information. For a check or money order deposit, you will only need your student's K2C Account number and name.
In person deposits can be made at Citibank branches only in San Francisco.
How do I make check or money order deposits by mail?
Make your check or money order payable to the student’s name and include his or her account number found on the Account ID Card in the memo section of the check. Send the deposit to:
Citi Youth Savings Accounts
P.O. Box 790020
St. Louis, MO 63179-9966
How do I set up a direct deposit?
Print the Direct Deposit Form from the www.k2csf.org site. Complete the form and give it to your employer.
How do I make a deposit using bill payment services?
You can set up Bill Pay with any financial institution where you hold an account.
How do I add a Bill Pay merchant to set up bill payment?
Follow the steps below to add the merchant and set up payments:
1. Log into your bank’s online portal and proceed to the Bill Pay section. You can also call your financial institution for guidance on how to set up bill pay through them.
2. Enter and save the Bill Pay merchant details as follows for all fields as applicable:
- Merchant Name: Kindergarten 2 College Account
- Account # — Enter the student’s 15-digit account number
- Merchant Address: P.O. Box 790020 St. Louis, MO 63179-9966
- Merchant Phone Number: 415-701-2311.
3. Follow the prompts to add the merchant and set up a one-time or recurring payment.
Once you have entered this merchant in your bank’s Bill Pay section, you will not have to enter the merchant’s information again and all payments will be sent electronically.
*Fees may be charged by other financial institutions for bill payment services
What is a Gift?
Unconditional contributions (deposits) given by a third party to students and deposited into student's K2C account whether or not student completes the K2C Program. In other words, the funds belong to the student in all circumstances.
What are the current K2C incentives?
Incentives are funds that a student in the K2C Program can earn by participating in the program and completing certain requirements. The current incentives for the K2C Program are:
$50 Initial Incentive. A K2C account is opened for each eligible student when starting kindergarten, containing an initial incentive of $50 from the City and County of San Francisco.
$10 Save Monthly Bonus. Any month you save at least $10, be rewarded with an immediate $10 bonus. You are eligible to receive a total of $60 for any six months of saving. This incentive is available to all K2C account holders who did not earn the previous $100 Save Steady Incentive and will expire December 31st, 2018 for accounts opened before December 1st, 2017. For accounts opened Spring, 2018, the expiration date is May 31, 2019.
$10 Save Now Bonus. For new accounts opened Spring, 2018, if you make your first contribution in their account before May 31, 2018.
$20 K2C Account Registration Bonus: If you register on the K2C portal to view your student's account activity, your student will receive a $20 bonus in their account. This incentive is available for all K2C account holders who have not yet registered their account on the K2C portal.
Incentives are conditional and contingent upon attendance in post-secondary education.
Will there be additional incentives in the future?
Other incentives may become available in the future. Certain incentives may require a signed Release of Information form.
When will I see the incentives credited on my account?
Please allow up to a month for incentives to be reflected in your child's K2C account. Incentives are conditional and contingent upon attendance in post-secondary education.
How do I check my child's K2C account balance?
You can check your account balance online by signing in or registering at www.k2csf.org.
When will I see my contribution on my online Student Activity page?
You will see the information on the online access Activity Page within 72 hours of the transaction if you deposited via direct deposit, bill pay or in person at a branch. If you have mailed a deposit, it could take up to 10 business days to appear on your Activity Page.
Account Features and Policies
What type of account is the K2C account?
The K2C account is a deposit-only savings account that is restricted account intended for post-secondary educational use. Kindergarten to College accounts are custodial accounts owned by the City and County of San Francisco under its tax ID number, for the benefit of the student. The student is named as the beneficiary of his/her account.
Do I need to take any steps to open my child’s K2C account?
When your student starts kindergarten, the City and County of San Francisco automatically sets up a K2C account in the form of an account record for your student with a $50 initial incentive from the K2C Program. Shortly after school begins, a welcome kit for the K2C Program will be sent home to you explaining the details of the Program. Once you receive your K2C account card, you can start saving for your student.
Are there any fees or charges related to the K2C account?
Does the K2C account earn interest?
Savings in the program do not accrue interest. But students can earn Incentives based on their contributions. Incentives are conditional and not earned until the student completes the Program requirements.
Can I send part of my tax refund into my child’s K2C account?
Yes. Tax refunds are a great opportunity to make an extra contribution to your account. You can deposit any portion directly into the K2C account. Bring the 15-digit account number and Citibank routing number 031100209 when you prepare your taxes.
Can I withdraw the money in my K2C account at any time?
The K2C account exists to help make college a possibility for every student. As a result, incentives are bound to that purpose and are distributed only when a child enters post-secondary education.
If your student does not attend post-secondary education, then all the funds except for incentives will be released to the student upon turning 25 years old. For students that serve in a national service program (such as the US Military or Peace Corps), each year of service may increase the maturity date by one year, to a maximum of five years, or attaining the age of 30.
In the case of an emergency or unforeseen circumstance, the student and/or parent/guardian may request an unqualified withdrawal from the K2C Program. Please contact K2C at email@example.com to request a withdrawal form. A withdrawal forfeits previous incentives related to contributions.
Withdrawals may take up to 28 days to process.
Impact on Public Assistance, Financial Aid, or Tax Implications
What is the difference between a K2C account and a 529 account?
Please ask your financial advisor to review both accounts to learn more about the differences.
Are there any tax or financial aid implications with participating in the program?
Please contact a tax or financial advisor for more information.
Moving In and Out of K2C
What happens if my child transferred schools within SFUSD?
If your student has a K2C account, the account will remain open.
My child is new to SFUSD in a grade above kindergarten. Will my child get a Kindergarten to College account?
If your student is entering an SFUSD school in grades K-5, your student will receive a K2C account.
My child is in Transitional Kindergarten, will he or she receive an account?
No, students will only receive a Kindergarten to College account when entering Kindergarten in an SFUSD school.
What happens if my child leaves the SFUSD?
If there are any contributions in your K2C account, the account will remain open and active for your use. Any incentives you accrued while in SFUSD will remain in your K2C account. Once you leave the SFUSD, you will not be eligible for any future incentives. All other program rules still apply. If there are no contribution made to the K2C account, the account will be closed after leaving SFUSD.
How do I update my mailing address?
Notify SFUSD’s Educational Placement Center (EPC), using its Change of Address form. SFUSD will share your new address with K2C the beginning of each semester. For temporary update to K2C records, email firstname.lastname@example.org or call 311 (in San Francisco only) or 415-701-2311.
After graduation, using your K2C funds
Can I use the funds for any kind of cost?
In order to receive all funds, they must be used for post-secondary education.
What will happen to the account if my child doesn't want to go to college?
If the student decides not to pursue post-secondary education before the age of 25, he or she can request the funds from the account. All funds with the exception of incentives will be disbursed to the student.
Can I transfer the account to a different family member if the funds go unused?
You may withdraw the funds from your K2C account and deposit them into another account. However, any incentives will be forfeited.
Can I use K2C funds outside of the U.S.?
What if something happens to my student, who is the beneficiary?
Once K2C is contacted by the parent or legal guardian and provided the required information to withdraw their student from the Program, all the funds with the exception of incentives will be disbursed.
Who do parents contact if they have questions about Kindergarten to College?