Free with Interest Childrens Bank College Savings Account
Free with Interest Childrens Bank College Savings Account
Q1: How can we help middle income children afford the high cost of a college education?
Idea Description
How many times do we pass by and see a penny on the ground? We either pick it up or walk pass by it. If every child picks up a penny or more that they find and take it too their banking institute and open a free college savings account with interest that they can't access until the age they graduate high school. It would teach children the benefits at a very young age the inportance on how to save their money and put it to good uses such as their future savings to their education before entering the career world. I don't know if their is anything out there like this but I thought it was a good idea to take a penny or more that a child finds, and be able to put it to good use such as savings.
What will you do if you win $10,000 for this idea?
I would take the $10k prize and give a penny to one million first graders to open a college savings account toward their future tuition or books. It would just be a good deed to give and help children the importance of future savings or figure how to use the prize money to get this idea going.
Vote for it now.
I like your idea; I want to improve your odds of getting funding I will vote for your idea if you will vote for mine. My idea is for a web site that raises money for inventors and entrepreneurs called New Idea website Check out my idea blob submission and visit New Idea Website and see what I can do for you. http://www.ideablob.com/ideas/4060-NEW-IDEA-WEBSITE The need for jobs is one of the biggest problems that a democratic government faces because creating jobs is an unwanted byproduct of business and industry. The reason I say its unwanted is the more jobs a business creates the more its expenses are and the smaller it’s bottom-line. If business and industry have their way they would run their companies with no jobs at all no management or labor. To deal with this dilemma I pr…moreopose a federal venture capital carrot fund that literally pays entrepreneurs to create jobs. The investment bank would be expected invest in seed level startup projects like yours and to lose money at a specified dollar per jobs ratio for example during hard times that figure may be as high as $20,000 per job and good times the figure may be as low as five dollars per job, by controlling this ratio the fed could roughly control unemployment. The bank will be expected to fund novel products and services and stay away from things like restaurants that will simply draw jobs from other restaurants or moving factories from one part of the country to another. If you like this idea vote for it and send the congressional letter from the website. Sincerely Frank Scruggs
I know the banks would want to benefit from this venture. I was thinking if the child doesn't use their savings for any education such as college, vocational, and tech then the bank would be able to keep a percentage of the savings if the savings doesn't get use for an education when they reach the age to obtain the savings account.
This is a very creative "outside-the-box" idea for such a regular occurrence. Banks are very difficult to start so I see this as being a nonprofit venture to educate children on the value of interest and saving? If that's the case, I'd take your idea to someone like JumpStart (www.jumpstartcoalition.org) which is dedicated to teaching financial literacy or Robert Kiyosaki who created a kid's game called CashFlow (http://www.richdad.com/Store/ProductDetail.aspx?id=1). They might be able to grease the wheels for you so that this can become reality a little quicker.