Mississippi College Savings Account Initiative (MS CSA)

Mission/Goal

Program Description

In order to be eligible for participation in the MS CSA Program, a child must be currently enrolled at one of the following institutions (Partner Sites):

We are reaching out to numerous Mississippi stakeholders and gathering some good ideas for identifying the appropriate partners, delivery systems and sources of funding to develop and implement a large-scale, replicable CSA initiative. Continuation of the program beyond the pilot will depend, in part, upon the program’s ability to secure additional funding.

Program Success

The program has been received incredibly well at our pilot locations. Site personnel have worked hard to create and maintain momentum in parents and students. Incentives, like classroom parties and parent awards, have also helped increase enrollment rates.  Currently, 647 children's savings accounts have been established!

Planning for education isn’t just about money. Preparing our children by equipping them with basic concepts is key. MS CSA is playing a dynamic role in transforming the existing classroom curriculum with the infusion of fundamental money lessons. Preschool-tailored lessons are derived from Practical Money Skills for Life and are created to inspire students to save. For more information, check out www.practicalmoneyskills.com.

MS CSA understands that parental involvement ensures success, so we seek to include the entire family unit. Parents have access to at least 8-10 hours of education through the Money Smart Curriculum developed by the FDIC and the NeighborWorks America Financial Literacy Program. Classes are held at respective sites, under the instruction of program partners. Money Smart is designed for persons who have little or no banking experience to enhance their money skills and to create positive banking relationships.

Recent Press Releases

Check out MS CSA's latest media releases:

Hope Federal Credit Union, Jackson, MS
The Commercial Appeal, Memphis, TN
WHLT 22, Hattiesburg, MS
gulflive.com, Jackson, MS
The Orange County Register, Santa Ana, CA                                                                                                                                                       The Clarion-Ledger, Jackson, MS
Northeast Mississippi Daily Journal, Tupelo, MS
Mississippi Business Journal, Tupelo, MS
 

Program Sustainability

Over the next three years, January 2013 – December 2015, the MS CSA program’s objective is to continue working in the established service areas and enroll up to 300 new children annually to open accounts, receive financial education in the classroom, and provide financial education to their parents. It is our intent to pursue additional seed and match funds for the children’s accounts, program incentives for participating families such as matching funds and/or classroom performance-contingent funds, and capacity building support for service providers. One mechanism utilized by MS CSA for securing match monies is the 1:1 Fund.  1:1 Fund is conceived, structured and capitalized by the Corporation for Enterprise Development (CFED), a national nonprofit based in Washington, DC with more than 30 years of experience in expanding economic opportunity for low-income families and communities.  It is an online matched savings marketplace that promotes educational opportunity for low-income people by allowing individual donors to search for and invest in the futures of a particular region, age group, or cultural demographic.

We are excited about the success of the pilot and hope to continue serving the low-income and minority children and youth of Mississippi in our mission to dream, save, and achieve. If you'd like to give a special gift this holiday season, please donate here.

Contact Information

Lakisha L. Butler,
MS CSA Program Coordinator
kbutler@deltastate.edu
662.846.4808

Ernestine Bilbrew,
MS Community Financial Access Coalition
VP Program Development
ebilbrew@bellsouth.net
601.559.7131

Funders/Partners