As thousands of Newark families prepare their children for the first day of kindergarten this September, Newark Public Schools is launching a bold new initiative to invest in their future. Thanks to a $150,000 grant from The Prudential Foundation, every incoming kindergartner will receive a college savings account through the new Newark Saves College Savings Program.
The program, unveiled today by district officials and community partners, will open accounts for 3,000 kindergarten students this fall. Newark Saves is made possible through partnerships with The Prudential Foundation, the FOCUS Hispanic Center for Community Development, and the Newark Public Schools Foundation, and is aligned with Mayor Ras J. Baraka’s Newark Movement for Economic Equity (NMEE), which is dedicated to ending poverty and expanding opportunity for families across the city.
Investing in Newark’s Future
“It’s not too soon to start thinking about 2038, when this year’s kindergartners will be starting college,” said Superintendent León. “As more Newark Public Schools students are admitted to higher education institutions every year, Newark Saves will help reduce cost as a barrier to attending or finishing college.”
Prudential leaders echoed that commitment. “Through the Newark Saves College program, we’re investing in Newark’s future by helping families save for post-secondary education—a meaningful step toward increasing economic mobility and long-term financial wellness,” said Shané Harris, Vice President of Inclusive Solutions and President of the Prudential Foundation.
Breaking Down Barriers
Community partners emphasized the program’s role in lifting families and removing financial barriers.
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“This is not just about saving for college. It’s about affirming that every child in Newark has a future worth investing in,” said Maritza Arauz, Executive Director of FOCUS Hispanic Center for Community Development.
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“The Newark Saves Program will help make college more attainable while helping families avoid heavy student loan debt,” added Hasani K. Council, Board of Education President.
Mayor Baraka praised the initiative as both innovative and transformational: “This brilliant program helps families build their children’s college funds while students continue to excel academically. Newark is blessed to have Prudential as a long-term, compassionate partner—and the visionary leadership of Superintendent León.”
A Long-Term Commitment
For nearly eight decades, Prudential has invested in Newark’s community, and Newark Saves builds on that legacy by combining seed funding, savings incentives, and financial literacy programs for families. The initiative underscores a simple but powerful message: every child in Newark has a future worth saving for.
Superintendent León closed by thanking The Prudential Foundation, FOCUS, and the Newark Public Schools Foundation for making this vision a reality. “Every year, our students prove they’re ready for college,” he said. “Newark Saves is designed to make sure they also have the financial support to finish.”
