HARRISBURG, PA — Pennsylvania is expanding efforts to connect early childhood reading programs with education savings accounts, linking free book distribution to a $100 state-funded scholarship available to eligible children.
What This Means for You
- Children born in 2019 or later qualify for a $100 state-funded education account that must be claimed by families.
- Free books distributed statewide now include instructions to access that funding.
- Even small savings amounts are associated with higher rates of college enrollment and completion.
The Pennsylvania Treasury’s Keystone Scholars Program is partnering with Pennsylvania One Book, a statewide literacy initiative, to reach families through libraries and early learning centers.
Keystone Scholars provides every Pennsylvania child born in 2019 or later with a $100 scholarship to start saving for education. Families must claim the account, after which the funds are invested by the state and can grow over time. The money can later be used for approved expenses such as college, technical training, apprenticeships, and credential programs.
Pennsylvania One Book, operated through the Department of Education’s Office of Commonwealth Libraries, promotes early literacy by encouraging shared reading between children and caregivers. This year’s selected book, “The Great Cookie Kerfuffle” by Jessica Shaw and illustrated by Pauline Gregory, is being distributed to approximately 16,000 children statewide.
Each copy includes a book plate with information on how families can claim the Keystone Scholars scholarship.
“Through our Keystone Scholars Program, the Pennsylvania Treasury is thrilled to team up with PA One Book to reach more young Pennsylvanians and their families,” Pennsylvania State Treasurer Stacy Garrity said. “Together, we’re inspiring kids to dive into reading and helping their families start saving early for their future education.”
Program Reach
More than 100,000 Keystone Scholars accounts have been claimed, totaling over $10 million in scholarships, according to the Pennsylvania Treasury.
Families who have claimed those accounts have contributed more than $200 million into PA 529 College and Career Savings Program accounts, which allow tax-advantaged savings for education expenses.
PA 529 accounts can be used for a range of costs, including K-12 tuition, college, and workforce training programs. Assets in those accounts do not affect eligibility for Pennsylvania state financial aid.
Early Savings Impact
State officials cited research indicating that children with dedicated education savings are three times more likely to enroll in post-high school education and four times more likely to graduate.
“Programs like Keystone Scholars can have a big, positive impact on families beyond the financial boost,” Garrity said. “They can help improve social-emotional development for children, reduce maternal depression and increase parental educational expectations.”
Literacy Initiative Continues
The Pennsylvania One Book program is marking its 20th year. Officials said the program continues to focus on building early literacy through shared reading experiences.
“OCL is proud to lead the PA One Book Program with our colleagues from the Office of Child Development and Early Learning and our partners in early learning across the Commonwealth,” said Susan Banks, deputy secretary for the Office of Commonwealth Libraries and state librarian. “Early literacy is the foundation of the success of our Commonwealth and we’re excited to share another story in the long list of One Book titles.”
The Office of Commonwealth Libraries will host a virtual event with the book’s author on April 15 at 10 a.m. Families can register at https://paonebook.powerlibrary.org.
Next Steps
Families can claim a Keystone Scholars account or learn more about PA 529 at https://pa529.com/keystone. Additional information about Pennsylvania One Book is available at https://paonebook.powerlibrary.org.
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