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Bonuses

Grow your baby’s account!

Earn free money to help your baby’s college savings account grow!

You can earn bonus deposits for your baby by reaching milestones, engaging in CollegeBound Saint Paul, and participating in empowerment activities for your family and child.

Seed Deposit

Your baby already has $50 for college!

Program Bonuses

Your baby can earn bonus dollars from the program to help their account grow! We will contact you with bonus opportunities.

Family Deposits

Any deposit made by family members or friends such as grandparents, aunts, or uncles.

Family and friends can also directly give to your baby’s account. Because your baby’s account is deposit-only, you can share their account number with others who want to contribute.

$25 First Birthday Bonus

Register on the CollegeBound Saint Paul Savings Portal and log-on to view your child’s account balance for the first time.

How to Claim Bonus: Click on the Savings Portal Registration Page. You will need your baby’s ID in order to register your savings portal for the first time. This can be found on your baby’s account card that was included in the welcome packet you received. Instructions for logging in the first-time to see your baby’s account can be found in your welcome packet booklet on page 4.

$25 First Birthday Bonus

Happy Birthday! Earn this bonus when your baby turns 1 year old.

How to Claim Bonus:  You do not need to take any steps for this bonus, the program will provide the bonus in the month your child turns 1 year old.

$50 Registration Survey Bonus

Complete the registration survey on the Savings Portal.

How to Claim Bonus: Register or log into your account on the Savings Portal to access the survey.

$50 Opt-in Bonus

Opt-in to CollegeBound Saint Paul to open your baby’s account.

Babies eligible for CollegeBound Saint Paul are enrolled at birth, but for many families, your baby’s birth record that the program uses to automatically enroll participants is kept private. This includes babies whose parents are not married through the legal system, babies in the foster care system, or babies born outside of Saint Paul but became residents.

How to Claim Bonus: You do not need to take any steps for this bonus, the program will determine if you are eligible.

$50 Equity Bonus

Babies born to families in historically-disinvested communities will receive a one-time bonus of $50.

Historically-disinvested communities refers to communities that have historically been under-resourced and disinvested in by the government, business and others.

How to Claim Bonus: Register or log into your account on the Savings Portal, and complete the Registration Survey. The program will determine if you are eligible based upon the information you provide in the survey or in the information provided when you enrolled in the program.

$50 Financial Health Bonus

Receive $50 each year for participating in programs or taking actions designed to improve your family’s financial life, such as taking a financial education course or participating in a program to improve your credit. In 2020, you can also earn a bonus for applying to emergency assistance due to the COVID-19 pandemic.

How to Claim Bonus: Click here for more information on eligible activities, referrals to partners, and steps to claims the bonus. 

$50 Early Childhood Wellness Bonus

Receive $50 each year for participating in programs or

taking actions that promote the healthy development of your baby, such as participating in parenting or infant classes, or taking your baby to a well-baby check-up.

How to Claim Bonus: Click here for more information on eligible activities, referrals to partners, and steps to claims the bonus.

Please allow up to a month for incentives to appear in your baby’s CollegeBound account. Bonuses may change yearly based on available funding.

CollegeBound Saint Paul Empowerment Bonuses

Grow your baby’s account by connecting to resources that improve your financial health and your child’s development.

The purpose of CollegeBound Saint Paul is not only to help your child on the path to higher education, but also to connect families to early childhood resources as well as financial education and tools to be financially healthy. You can receive $50 bonus deposits each year (based on your child’s birthday) for accessing resources or taking actions related to these goals.

$50 Early Childhood Wellness Bonus

You can receive $50 each year for participating in programs or taking actions that promote the healthy development of your baby.

What activities are eligible for a Financial Health Bonus?

Activities you have participated in since the birth of your CollegeBound baby can count towards your bonus, and must be completed by or in the name of one of the parents or guardians registered with your child’s CollegeBound account. 

Examples of eligible programs include: 

  • Financial Education
  • Financial Counseling or Coaching;
  • Credit Counseling or Credit-Building Products
  • Matched Savings Programs
  • Opening a new bank account (checking or savings)
  • Access Free-Tax Prep Services (VITA or Community-based tax prep)
  • Workforce development programs or career counseling services
  • Homeownership or business ownership workshops or trainings
  • Accessed small business financing, or downpayment assistance, i.e., loans or grants

Additional programs may be eligible for a bonus. To check if an activity qualifies, call 651-266-8829 or email collegebound@ci.stpaul.mn.us.

Where can we access financial health programs and services?

Below are organizations that offer financial health related programs, services & resources in Saint Paul and the Twin Cities:

Comunidades Latinas Unidas En Servicio (CLUES)

Latino Economic Development Center

Lutheran Social Services Financial Counseling

Mni Sota Fund

Model Cities, Inc.

Prepare + Prosper 

Ujamaa Place

Community Action Partnership of Ramsey & Washington Counties

Through December 31, 2020 you can also earn a $50 Financial Health bonus for accessing or applying to emergency assistance due to the COVID-19 pandemic.  

Examples of eligible emergency resources include:

For additional COVID-19 resources and support, please see the City of Saint Paul’s COVID-19 Response and Workforce, Housing and Families Resources.

$50 Financial Health Bonus

You can receive $50 each year for participating in programs or taking actions designed to improve your family’s financial life.

What activities are eligible for an Early Childhood Wellness Bonus?

Activities you have participated in during your pregnancy or since the birth of your CollegeBound baby can count towards your bonus, and must be completed by or in the name of one of the parents or guardians registered with your child’s CollegeBound account. 

Examples of eligible programs & activities include: 

  • WIC (Women, Infants, and Children) Nutrition Program
  • Well-baby check-ups
  • Early Headstart
  • Early Childhood Family Education (ECFE) through Saint Paul Public School’s Community Education
  • Parenting Support Groups, such as Club Mom and Club Dad
  • Family Home Visiting services
  • Receiving a Me & My Baby Brain Building Bag
  • Integrated Care High Risk Pregnancy Initiative

Additional programs may be eligible for a bonus. To check if an activity qualifies, call 651-266-8829 or email collegebound@ci.stpaul.mn.us.

Where can we access early childhood programs and services?

Below are organizations that offer early childhood wellness and development related programs, services & resources in Saint Paul and the Twin Cities:

Ramsey County’s Support for Families, including

African American Baby Coalition 

Early Head Start at Community Action Partnership of Ramsey and Washington Counties

Early Childhood Family Education (ECFE) through Saint Paul Public School’s Community Education

How to Claim Your Empowerment Bonus

Submit Documentation:
You can share documentation of your participation in a program, which could be a copy or image of an email, letter, receipt or other communication from the service provider.

Submit Verification Form:
If you don’t have documentation, you can ask the service provider to confirm your participation or benefit using the Verification Form.

Download

You can submit the bonus verification by:

Email: collegebound@ci.stpaul.mn.us

Fax: 651-266-8541

Upload: Upload on the CollegeBound Savings Portal, once you logged into your child’s account

Mail:
CollegeBound Saint Paul
700 City Hall, 15 W Kellogg Blvd.
Saint Paul, MN 55102

Enroll your child in CollegeBound Saint Paul today

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