Keystone Scholars Logo
banner image

MARCH 2022

Message from Treasurer Stacy Garrity

A belated Happy New Year to you all! As this is our first newsletter issue of 2022, I want to take an opportunity to personally thank you for all you do to support Keystone Scholars. With Keystone Scholars program, every child born in 2019 and after now has $100 invested for postsecondary education savings in their name. To date, that's more than 370,000 eligible children — and nearly 40,000 of them have already claimed their Keystone Scholars funds.

Another year means about 130,000 more PA newborns' families to engage with about the program, and we can't do it without you.

Every child's account is created automatically soon after their birth, with no family action required. But logging in is still important, so that families can see with their own eyes that they have a jumpstart on their child's future education savings. Logging in sounds like a small thing, but it's so important — by engaging with their account, we know that parents and children benefit not only financially, but socially and emotionally too.

So please, keep up the good work! Over time, awareness of Keystone Scholars is spreading, and as it does, hope and high expectations for a bright future will, too!

2021 Annual Report

Hot off the presses! Read how the Keystone Scholars program has grown over the past year, thanks in large part to our partners. Check out pages 17-19 of the report to see how your county is doing.

Some outreach related highlights from the report include:

  • The Bright Future Booster provided an additional $50 deposit into the Keystone Scholars accounts of babies born between January 1 and June 30, 2021, to mothers enrolled in WIC. Analysis by our researchers found that the gap in registration rate between babies born to mothers enrolled in WIC vs. those who aren't is now the lowest it has ever been. Overall, the WIC registration rate has increased 13% for the first five birth months of 2021 as compared to 2020. Since one of the objectives of the Bright Future Booster pilot was to increase awareness of Keystone Scholars amongst lower income families (those who participate in WIC), we see this as a great achievement due in large part to WIC agencies and other partners who helped spread the word.

  • All birth certificate mailings from the PA Department of Health now include Keystone Scholars messaging on a flyer insert. The fact that all families of newborns now receive Keystone Scholars information when receiving their birth certificate is an important step not only in raising awareness, but also in increasing trust in the program.

    DOH Flyer Front
    DOH Flyer Back

  • Joint outreach with the Pennsylvania Chapter of the American Academy of Pediatrics (PA AAP) to all 2,300+ PA AAP members in the state included a letter from Treasurer Garrity and PA AAP's President encouraging them to promote Keystone Scholars in their work. The mailing included promotional posters to hang in doctors’ offices, and a research summary on the benefits of Child Development Accounts like Keystone Scholars.

  • Dr. Zoe Bouchelle and Dr. George Dalembert, pediatricians at the Children's Hospital of Philadelphia, published this terrific op-ed in the Philadelphia Inquirer. Their column encourages families to register for Keystone Scholars, to open their own PA 529 account and start saving early. Moreover, it highlights the health and wellbeing benefits of Keystone Scholars and programs like it. Please share it broadly with your networks!

Other News

Keystone Scholars was one of 14 Child Development Account programs featured in the recent report by the Institute for Economic and Racial Equity at Brandeis University “Seeds of Equity: Fostering Inclusivity in Children’s Savings Account Programs.”

Spread the Word About Keystone Scholars

If you know others who would like to receive the Keystone Scholars Corner newsletter, please forward this email and invite them to sign up here.

PA Treasury Logo | Building a Better Future Through Education. | 800-440-4000
Stacy Garrity, Pennsylvania Treasurer

Keystone Scholars is open to Pennsylvania residents born after December 31, 2018 and children born after December 31, 2018 who are subsequently adopted by a Pennsylvania resident. The child must be a Pennsylvania resident at birth or adoption and at the time the Keystone Scholars funds are used. The child must also be the Beneficiary of a PA 529 account other than the Keystone Scholars Account at the time Keystone Scholars funds are used. If not used by the beneficiary's 29th birthday, the funds will be returned to the Pennsylvania Treasury Department (Treasury). Funds in a Keystone Scholars Account will be invested in a PA 529 GSP account and will remain under the sole custody of Treasury until they are used for the purposes of paying for qualified higher education expenses at an institution of higher education. A list of qualified higher education expenses may be found at No additional funds may be contributed to a Keystone Scholars Account. However, families are encouraged to save in their own PA 529 account.

The Pennsylvania 529 College and Career Savings Program sponsors three plans – the PA 529 Guaranteed Savings Plan (GSP), the PA 529 Investment Plan (IP), and Keystone Scholars. The guarantee of the PA 529 Guaranteed Savings Plan is an obligation of the GSP Fund, not the Commonwealth of Pennsylvania or any state agency. Before investing in either PA 529 plan, please carefully read that plan's disclosure statement (available at or by calling 1-800-440-4000) to learn more about that plan, including investment objectives, risks, fees, and tax implications. Before you invest, consider whether your or the beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that state's qualified tuition program.

613 North Drive | Room G-06 | Harrisburg, Pennsylvania 17120