California recently reached a milestone in its effort to help kids pay for college and career training.
Since 2022, the state has been automatically opening savings accounts for students through a program called CalKIDS. On Sept. 2 State Superintendent of Public Instruction Tony Thurmond announced that more than a million of these accounts have been claimed.
More than 63,000 kids in San Francisco had accounts as of last year.
Kids born in 2022 or later can get up to $175. And some older kids — for example English learners, homeless students, and foster youth — can get up to $1,500. And families can add to the accounts.
The money can be used to pay for tuition or other school expenses like room and board, books, and computers.
Researchers say that even a small financial incentive can help families save money over time for their kids’ education.
The state says there are five million accounts with money that’s been earmarked for students, but still hasn’t been claimed.
To confirm your eligibility go to CalKids.org.
