SAN DIEGO — All babies born in California on or after July 1, 2022, and eligible low-income public-school students may qualify to receive a savings account with funds preloaded from The California Kids Investment and Development Savings Program.
CalKIDS, a new program designed to jump-start education savings for California children, announced a program that would enable support for newborns and some public-school students' college paths and career training dreams.
"All participants will automatically receive seed deposits and other possible financial incentives in a CalKIDS account," a press release from CalKIDS said.
Babies born in California on or after July 1, 2022, would receive up to $100 in a college savings account, while eligible low-income public-school students could qualify to receive up to $1,500 in college savings for their future.
"It sounds motivating for sure," said Pamela Mclemore.
Mclemore is already planning for her three and 7-year-old. She knows the importance of saving early.
"I work downtown at city college in the financial aid department, so I have the opportunity to work with students every day trying to gain college access," she said.
The new CalKIDS account is said to work in tandem with ScholarShare 529, a college savings investment program providing tax advantages that could help families plan for the cost of higher education.
CalKIDS partnered with San Diego's December Nights to provide a spot for community members and students to learn more about furthering their education.
Click here for information about December Nights and where to find the CalKIDS booth.
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