Schwab Bank Grant Offers College Planning Kick-Start to Nevada Kindergartners

  Schwab Bank Grant Offers College Planning Kick-Start to Nevada

Business Wire

RENO, Nev. -- May 22, 2013

In an effort to encourage more Nevada students to graduate from college,
Schwab Bank today announced it will grant $20,000 to the Nevada College Kick
Start Program, administered by Nevada State Treasurer Kate Marshall, to fund
college savings accounts for 400 kindergarten students in Washoe County Title
1 schools.

Students with a college savings account are up to seven times more likely to
attend college than those without an account, according to 2010 research from
the Center for Social Development at Washington University in St. Louis^1.

“The Kick Start program plays an important role in changing the culture of
lower income families. It helps plant the seed of opportunity in the minds of
kindergartners and their parents that graduating from college is within
reach,” said Paul Woolway, president of Schwab Bank. “This grant is very well
aligned with Schwab Bank’s commitment to help people achieve better financial

Nevada has one of the lowest college-educated populations in the country, with
only 28 percent of adult residents holding an associate’s degree or higher as
of 2011, according to Complete College America^2. A 2011 study^3 by the same
organization suggests that by 2020, 58 percent of jobs will require a college
education or career certification, a number that will jump to 70 percent by

“As Nevada works to diversify its economy and create high-level jobs with
higher pay and benefits, we also must work to create a well-educated workforce
that can meet the needs of the local business community,” said Nevada State
Treasurer Kate Marshall. “Programs like Kick Start will help students learn at
a young age the value and importance of a college education in an increasingly
competitive workforce. We are thankful for the commitment and support from
Schwab Bank to help fund this important program.”

The program will be complemented by in-class personal finance education and
ongoing discussions about college savings accounts.

Funds will be held in an umbrella account managed by Upromise Investments
Inc., the Nevada College Plans program manager, to pay for postsecondary
education expenses at any U.S. Department of Education-approved educational

In addition to the grant from Schwab Bank, the Nevada College Savings Board
has committed $150,000 to support college savings accounts for kindergarteners
in 13 rural Nevada counties and hopes to secure funding to expand the program

Representatives of Schwab Bank and the Nevada State Treasurer’s Office,
including State Treasurer Kate Marshall, presented the check on May 21 at
Lincoln Park Elementary School, where Schwab has committed significant
resources to promote financial literacy in collaboration with Junior

About Charles Schwab Bank

The Charles Schwab Corporation (NYSE:SCHW) is a leading provider of financial
services, with more than 300 offices and 8.9 million active brokerage
accounts, 1.6 million corporate retirement plan participants, 895,000 banking
accounts, and $2.11 trillion in client assets as of April 30, 2013. Through
its operating subsidiaries, the company provides a full range of securities
brokerage, banking, money management and financial advisory services to
individual investors and independent investment advisors. Its broker-dealer
subsidiary, Charles Schwab & Co., Inc. (member SIPC,, and
affiliates offer a complete range of investment services and products
including an extensive selection of mutual funds; financial planning and
investment advice; retirement plan and equity compensation plan services;
compliance and trade monitoring solutions; referrals to independent fee-based
investment advisors; and custodial, operational and trading support for
independent, fee-based investment advisors through its Advisor Services
division. Its banking subsidiary, Charles Schwab Bank (member FDIC and an
Equal Housing Lender), provides trust and custody services, banking and
lending services and products. Investment products offered by Charles Schwab &
Co., Inc. are not insured by the FDIC, are not deposits or obligations of
Charles Schwab Bank, and are subject to investment risk, including the
possible loss of principal invested. More information is available at and (0513-3476)

^1 Center for Social Development at Washington University in St. Louis, 2010
“The Role of Savings and Wealth in Reducing ‘Wilt’ between Expectations and
College Attendance”

^2 Complete College America, 2011 “Nevada State Report”

^3 Complete College America, 2011 “Time is the Enemy” – Nevada State Profile

Upromise Investments Inc. and the Nevada College Savings Board are
unaffiliated with Charles Schwab Corporation and its affiliates.

Charles Schwab Bank, Equal Housing Lender (Member FDIC).


Charles Schwab
Stephanie Corns, 415-667-1808
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