Providence Promise

Mission Providence Promise promotes high educational aspirations and more equitable opportunities for Providence Public School and Charter School students by advocating for college savings accounts and family engagement, increasing financial literacy, and reducing the financial burden of higher education.

Vision To increase the K-12 and postsecondary success of Providence Public School and Charter School students and to help ensure a brighter future for the students, their families, and the community.

How It Works PVD Promise has established a multi-prong approach to combat the multitude of structural barriers to post-secondary education, especially for marginalized families. Its backbone, the opening of a College Savings Account (CSA), offers a pathway for families to assist their children in achieving and financing their education beyond high school. PVD Promise functions in three primary capacities to support families and youth...

01 FOSTER PVD Promise fosters a relationship with families that is built on transparency and trust. This begins when we partner with parents/guardians to enroll children from birth through 9th grade in our program, opening a 529 CSA for each. PVD Promise ensures that families feel fully informed of the process and the associated benefits. Additionally, families commit about 1% of their annual income to each of the CSAs, owned by the family, monthly.

02 INVEST PVD Promise partners with families to help them grow their account by providing a $100 seed deposit to each account upon enrollment. PVD Promise continues to invest in CSAs via the Early Scholarship Program, which offers students and families hundreds of opportunities to earn additional contributions for their participation in incentivized activities. Students can earn up to $3,000 per year in incentive awards.

03 EMPOWER PVD Promise offers robust, on-going Family Engagement and Youth Engagement Programs. These programs are designed to empower families to be advocates in their child's education and community and to equip students with the tools and resources they need to be successful in their post secondary endeavors. Programming is community-responsive, bilingual in English and Spanish, and planned in partnership with member councils.

Enrollment Financial Empowerment begins when families enroll in Providence Promise, as parents/guardians (account holders) working with talented, bilingual staff to open a 529 College Savings Account (CSA) for each child (beneficiaries) in their household. Staff work with parents/guardians to navigate technology and language barriers, making the CSA enrollment process more accessible. As part of the “Early Scholarship Program”, Providence Promise provides a $100 seed to each new CSA. Parents/guardians also agree to make monthly contributions to their CSAs within their means - about 1% of their annual income.

Early Scholarship Program “The Early Scholarship Program” is an expansive, on-going incentive program that provides enrolled students with financial incentive awards directly to their CSAs. Further, Providence Promise can partner with families to help them grow their college savings, building a financial foundation for higher education and promoting generational wealth. First, Providence Promise provides a $100 seed incentive to each new CSA. Then, students can earn up to $250/month ($3,000/year) when they or their parents/guardians can participate in hundreds of qualifying, educational activities or behaviors. This model encourages data-driven strategies for present and future educational success, such as earning good grades, reading, or participating in school clubs. Meanwhile, parents/guardians help their child earn incentives when they attend a PTO or parent-teacher meeting, participate in advocacy and professional development, volunteer in the community, and much more.

Family Engagement Program The Family Engagement Program provides workshops, meetings, events, and resources to at least 1,200 parents/guardians of enrolled students and to enrolled students in the 5th grade and below. This program supports young children to build a strong foundation for their K-12 education and supports parents/guardians to be advocates in their child's current and future educational endeavors and their broader community. The multi-faceted Family Engagement Program supports participants across a number of focus areas that are associated with K-12 and postsecondary success, including Academic Enrichment, Advocacy and Empowerment, Financial Literacy, and Health & Wellness.

Youth Engagement Program The Youth Engagement Program prepares middle and high school students and current college students for education beyond high school and the necessary steps leading up to high school graduation. Under this umbrella, the Mentorship Program offers Providence Promise students individualized guidance on college and career access topics from current college students. Additionally, youth are eligible for on-going college and career advising sessions, providing individualized support to students well before the 11th grade (which is when most college and career interventions begin). The new Alumni Program supports enrolled students who have graduated from high school as they persist in a higher education program.