The “On Our Block” St. Louis Investment Program will invest $5,000 each for 300 rising eighth graders across St. Louis County.
ST. LOUIS COUNTY, Mo. — What if your child could get a head start on their future? A new program is putting thousands of dollars into investment accounts for local middle schoolers.
This is a pretty big deal, and it’s free money for families.
If your child is headed into eighth grade at Saint Louis Public Schools, Normandy, Hancock Place, University City, Hazelwood or Ferguson-Florissant School Districts, your family can apply right now.
You can think of it as like a local version of “baby bonds,” so it’s an early investment in your child’s future. Eddie Mungai, MoCaFi Senior Community Engagement Manager, said this could be “life-changing” for hundreds of students.
“I’ve seen firsthand some of the inequities that happen in St. Louis, right, so I think this could be a good stepping stone to eradicating some of those inequities,” he said.
The “On Our Block” Program is giving students a chance to build a financial future through a $1.5 million fund. This fund, according to Mungai, will invest $5,000 each for 300 rising eighth graders across St. Louis County.
Mungai said once students graduate high school, they can use that investment for higher education, entrepreneurship, home ownership or to open a retirement savings account.
“A lot of people have various goals, goals that they want to pursue, and one barrier is money, so the fact that we’re providing money so that they can accomplish these goals, it can eradicate or even minimize some of these financial barriers that are related to some of the goals that they want to pursue. That’s why there’s this big benefit, so we really encourage a lot of families to apply to this program,” he said.
The program hopes to minimize that barrier by allowing students to build wealth at an early age. Bradley Johnson is the Career and Technical Education and College and Career Readiness Manager at the Ferguson-Florissant School District. He described the program as an ‘excellent opportunity for families to build wealth.’
“When you think about our district’s vision statement that all students will graduate believing that anything is possible and prepared to realize those possibilities, this money helps them to realize those possibilities in the future,” he said.
It’s a crucial resource that Johnson believes will help level the playing field and give students a competitive advantage.
“As you know, when you finish high school, the financial roadblocks can be immense, but this type of investment can be life-changing and so I’m excited about the possibilities for our kids and families,” he said.
A life-changing investment, Mungai wants families to know, they can get a hold of now.
“It’s free money, there’s no ask from the parents other than just to apply,” he said.
What qualifications are needed?
- Your child needs to be going into the eighth grade this fall.
- They must attend one of these six school districts: Saint Louis Public Schools, Normandy, Hancock Place, University City, Hazelwood or Ferguson-Florissant.
- Families also must meet income guidelines:
- The total household income has to be at or below 80% of the area’s 2024 median income.
- For a family of four in St. Louis County, according to the U.S. Department of HUD Income Limits, that means making $82,550 a year or less.
- For a family of two, it’s $66,050.
The Ferguson-Florissant School District is hosting workshops to help families with the application process. Families can walk into the Administration Center at 8855 Dunn Rd. Hazelwood, MO 63042 during the following times for assistance:
- Tuesday, July 15: 8 a.m. – 3:15 p.m.
- Thursday, July 17: 8 a.m. – 3:15 p.m.
- Monday, July 21: 4 p.m. – 7:15 p.m.
- Thursday, July 24: 4:15 p.m. – 7:45 p.m.
