In partnership with DC College Savings Plan, the Dietra L. Ford Savings Account program makes a critical investment in children’s future and helps bridge the wealth gap for long-term success.
Benefits
A study from the Center for Social Development at Washington University found that when a child has a college savings account, they are 25% more likely to attend college, even with less than $500,
That same study found that when a child has a college savings account, the are 64% more likely to graduate from college, compared to peers with no savings at all.
The program helps bridge the wealth gap and empowers young individuals to pursue higher education, training, or other opportunities, such as homeownership or starting a business.
NumbersAre Saying
Children must be enrolled in Martha’s Table’s Early Childhood Education program for one full year to receive the $1,000 deposit.
The account is a 529 college savings account, managed in partnership with the DC College Savings Plan.
529 accounts do not count as income and generally do not affect eligibility for SNAP, TANF, Medicaid, or housing assistance, because the funds belong to the child and are restricted for educational purposes.
Dietra L. Ford was a native Washingtonian who dedicated her life to supporting childhood causes. She is also the late mother of former president and CEO Kim R. Ford.
Dietra L. Ford was born in Washington in 1946 and graduated from McKinley Tech High School and Howard University. Ford spent more than 20 years as a senior executive in both the legislative and executive branches of the federal government. From 1975 to 1993, she worked on the Committee on the District of Columbia in the U.S. House of Representatives, where she served as Senior Legislative Associate, the principal staff member responsible for congressional legislation and oversight for numerous government activities within the Committee’s jurisdiction. She also received two appointments in President Clinton’s administration: in 1992, Ford was appointed by President-elect Clinton and Vice President-elect Gore as one of the nine transition cluster group leaders, heading a team of professionals that assessed seven federal agencies in preparation for the new administration. In 1996, President Clinton appointed her Associate Administrator in the Office of Enterprise Development for the U.S. General Services Administration, where she oversaw $20 billion in assets and tens of thousands of employees nationally. She also served as a Commissioner of the National Capital Planning Commission, the central federal planning agency in the National Capital Region.
Among other affiliations and activities, Ford served on the Board of Trustees for Sibley Memorial Hospital and was a member of both Leadership Washington and the Governing Board for the American Hospital Association’s Section for Maternal and Child Health. Ford, whose face would light up around kids, left an indelible impact on the lives of so many of her friends, family members, and colleagues.
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