Professor William Elliott III spoke with The New York Times about a new proposal that would greatly increase the funds New York City kindergartners receive through NYC Kids Rise, a college savings program. The proposal would provide a one-time contribution of $1,000-$3,000; currently, the program funds each account with $100. Elliott is a leading researcher on college savings accounts and their ability to transform not just college funding, but also expectations and attitudes around savings and wealth.
“There’s going to be more and more need for us to think about how do we redistribute wealth to maintain the meritocracy that we aspire to achieve,” he said. “It’s going to require programs like this that don’t just think about income as a way out of solving poverty but think about wealth as an important part of shaping kids’ futures.”
June 11, 2026
