New College Program Gives Students Seed Money To Invest

A University of Kentucky program provides students with seed money to become better savers and investors.

Pink and white books with college graduation cap and lightbulbs
(Image credit: Getty Images)

In a first-of-its-kind effort to get college students saving and investing early, the University of Kentucky is offering to seed brokerage accounts for all of its 31,500 students. It’s free money, ostensibly, but the program, called UK Invests, requires that students accomplish certain tasks before the school deposits any money in their accounts.

Many colleges have investment clubs, and some universities offer classes on personal finance. What sets UK Invests apart is that it is university-wide, and cash-strapped students don’t have to scrape together a penny of their own money (although they can if they wish). The school is offering to contribute up to $250 a semester into each student’s account, depending on which tasks they complete.

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Kim Clark
Senior Associate Editor, Kiplinger's Personal Finance

Kim Clark is a veteran financial journalist who has worked at Fortune, U.S News & World Report and Money magazines. She was part of a team that won a Gerald Loeb award for coverage of elder finances, and she won the Education Writers Association's top magazine investigative prize for exposing insurance agents who used false claims about college financial aid to sell policies. As a Kiplinger Fellow at Ohio State University, she studied delivery of digital news and information. Most recently, she worked as a deputy director of the Education Writers Association, leading the training of higher education journalists around the country. She is also a prize-winning gardener, and in her spare time, picks up litter.