850,000 New York children in low-income families will receive $200 each for back to school supplies from wealthy financier George Soros. Soros and his Open Society Institute today announced a $35 million gift for kids across the state for purchasing supplies and clothing for the new school year.
The grants enable the state to draw upon another $140 million in federal stimulus matching funds. Governor Paterson, who announced with Soros the program at a Harlem elementary school, said helping families who are on public assistance and food stamps was most definitely an economic stimulus.
“Even in the toughest of economic times, starting the school year right is key to a child’s success,” said Mr. Soros. “When I was a student after World War II, I had no money. I received financial help, and I remember how important that was to my education. Since then I have been very fortunate and am happy to have the opportunity today to help others. I hope these funds will relieve some of the financial burden on New York’s families,” added Mr. Soros.