Building wealth early

A new effort to put $5,000 into the hands of hundreds of St. Louis-area students is returning — this time with a stronger focus on trust, guidance and long-term financial planning.

The St. Louis Junior Bonds program, previously known as On Our Block, was launched with a $1.5 million investment from the James S. McDonnell Foundation. The concept mirrors “baby bonds” initiatives that seed investment accounts for children at birth, though this model accelerates the timeline.

Instead of newborns, selected eighth graders receive $5,000 accounts that become accessible after high school graduation. Students can use the funds for higher education, purchasing a home, starting or buying a business or opening a retirement account.

Now administered by The Scholarship Foundation of St. Louis, the program is working to fill approximately 200 remaining slots before a June 1 deadline. The organization has added locally based partners to enhance financial education and is placing greater emphasis on guiding students and families as they plan how to use their funds.

The current version builds on an earlier phase of the program, which operated as On Our Block. That effort included outside partners and relied more heavily on digital engagement. The Scholarship Foundation’s approach emphasizes in-person relationships and local trust, according to reporting by St. Louis Magazine.

Executive Director Faith Sandler said the initiative fits within the foundation’s mission.

“We devote our work to providing financial resources where the need is greatest,” Sandler said. “But just as important, we strive to provide young people the information they need to make sound decisions for themselves.”

She said $5,000 can be transformative — but only with careful planning.

“Without proper guidance, a sum like that won’t have the impact intended,” she said.

Brooke Dyer, vice president at J.P. Morgan Private Bank in St. Louis, said the program’s emphasis on financial literacy is critical.

“The main thing is, it helps young people understand financial literacy,” Dyer said.

Dyer said early investment can have long-term impact.

“The thing to understand is the power of compounding growth,” she said. “Basically, a dollar saved in a child’s early years is significantly worth more than a dollar saved later due to those compounding returns.”

Sandler said each student will receive a share of a pooled investment fund that began as $1.5 million and is expected to grow over time, depending on market conditions.

“That philosophy has shaped how the foundation is approaching the program differently.”

“This is St. Louis,” Sandler said. “We want to know the address, the zip code, and the people behind the words before we commit to believing or trusting.”

Families applying must provide confidential financial information and meet income requirements — at or below 80% of the 2025 median income for St. Louis County — and reside in St. Louis or participating North County districts, including Ferguson-Florissant, Jennings, Hazelwood, Normandy, Ritenour and University City.

Sandler acknowledged that communities eligible for the program “have reason to be skeptical when something sounds too good to be true.”

“Person-to-person trust is essential,” she said.

Skepticism is understandable, Dyer said, but she urges parents to understand the long-term value of early investment.

“There’s no one-size-fits-all approach to financial planning,” Dyer said.

To ensure students are equipped to use their bonds wisely, the foundation has invited subject matter experts, including St. Louis Community Credit Union, the Small Business Empowerment Center and Edward Jones.

Participants will begin with basic financial education through an online platform known as MoneyByrd, followed by more targeted support in areas such as homeownership, entrepreneurship and investing.

Ricky Hughes, the Junior Bonds project manager, said the program is about more than distributing money.

“Five to 10 years from now, I hope participants walk away with more than just financial resources,” he said.

Recruitment efforts rely on school counselors, educators and community leaders who are trusted voices for families.

Success, Sandler said, will not simply be measured by how many accounts are funded.

“If students have solid financial footing for their plans and a network of local resources to depend upon,” she said, “that will be a success.”

For now, the focus is clear: reach eligible families, deliver every dollar, and ensure that when these students graduate, they step into adulthood not only with an investment account — but with the knowledge and support to use it wisely.

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