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The El Monte Promise Foundation is offering a $250 bonus for families who open a Scholars Saving Account


October 1, 2020                                 


The El Monte Promise Foundation is offering a $250 bonus for families who open a Scholars Saving Account

El Monte Promise Foundation’s Scholars Savings Program provides families the opportunity to save for their children’s college education

EL MONTE — The El Monte Promise Foundation (EMPF) has partnered with the El Monte City School District (EMCSD) and the Mountain View School District (MVSD) to offer a $250 bonus to families that enroll in a college savings account by October 31, 2020.

For a limited time, families who open a Scholars Savings account and deposit at least $1 can earn a bonus of $100 for their account. In addition, families can earn an additional $150 by depositing at least $1 every month for the first 6 months thereafter. Families whose students are enrolled in EMCSD and MVSD and are in TK through 6th grade are eligible for the promotion.

Jennifer Cobian, Executive Director of EMPF, hopes families will take advantage of the opportunity so that their children’s educational futures are not limited by our current challenges. “We know families are struggling right now, but we don’t want this current crisis to prevent them from planning for their child’s future. The Scholars Savings Program is built to support our families through this tough time and this incentive will give families a boost when they need it most.”

The El Monte Promise Foundation is a community-based organization that unites the community’s efforts to create a seamless cradle-to-college pathway in the greater El Monte region. EMPF is committed to creating a college ready culture and believes paying for college
should not deter students’ paths to higher education. The Scholars Savings Program is a part of this mission. It was created to address the financial barriers that many families face and to help make college planning a reality for all students.

The Scholars Savings Program (SSP) is a postsecondary savings program that provides opportunities for families to open college savings accounts through my529, EMPF’s account provider. Accounts are open as 529 plans, there is no fee to open an account and does not require minimum monthly deposits. In addition, saving in a 529 plan will not reduce or disqualify CalWORKS benefits. The funds for this incentive were made possible by the Every Kids Count Grant provided by the State of California to encourage college savings. Families interested in taking advantage of the promotion can visit <

For inquiries, families can contact Francisco Arroyo at (626) 782-2753 and Francisco is available to speak in English and Spanish.