Harrisburg, PA - Pennsylvania Treasurer Stacy Garrity today announced that Treasury's Keystone Scholars Program, which provides every Pennsylvania child born in 2019 and after a $100 scholarship to jumpstart their education savings, has partnered with Pennsylvania One Book to help promote financial literacy for our youngest Pennsylvanians.

"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. Together, we're inspiring kids to dive into reading and helping their families start saving early for their future education."

Pennsylvania State Treasurer Stacy Garrity

PA One Book encourages families and communities to read together to promote early literacy.

PA One Book is an initiative of the Pennsylvania Department of Education's Office of Commonwealth Libraries (OCL). This year's selected book is "The Great Cookie Kerfuffle," written by Jessica Shaw and illustrated by Pauline Gregory. Approximately 16,000 copies are distributed statewide to libraries and early learning centers. Each book includes a book plate that shares information on how families can claim their child's $100 scholarship from Keystone Scholars.

OCL is hosting a virtual meeting with the author of "The Great Cookie Kerfuffle" on April 15 at 10 a.m. Families can register by visiting paonebook.powerlibrary.org.

"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. We celebrate 20 years of this program connecting young children, caregivers, and their families with a shared reading experience. 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."

Deputy Secretary for the Office of Commonwealth Libraries and State Librarian Susan Banks

More than 100,000 Keystone Scholars accounts have been claimed, totaling more than $10 million in scholarships.

Scholarships from Keystone Scholars are invested by Treasury and grow alongside the child. The money can be used after the child turns 18 for qualifying technical, collegiate, apprenticeship and credentialing education expenses.

"Programs like Keystone Scholars can have a big, positive impact on families beyond the financial boost. They can help improve social-emotional development for children, reduce maternal depression and increase parental educational expectations."

Pennsylvania State Treasurer Stacy Garrity

Research shows that even with a modest amount of savings, like Keystone Scholars provides, children are three times more likely to enroll in post-high school education and four times more likely to graduate.

Families should claim their child's scholarship from Keystone Scholars, and they are encouraged to continue saving on their own with the PA 529 College and Career Savings Program. Families who have claimed their Keystone Scholars accounts have already saved over $200 million in their own PA 529 accounts.

With a PA 529 account, families can steadily and strategically save in a tax-advantaged way for a wide variety of qualifying technical, collegiate, apprenticeship, credential and K-12 educational expenses. Assets in PA 529 accounts do not impact eligibility for Pennsylvania state financial aid.

To learn more about PA 529 and Keystone Scholars, or to claim your child's scholarship, visit pa529.com/keystone.

To learn more about PA One Book, visit paonebook.powerlibrary.org.