By Betty Marquez Rosales, EdSource, May 20, 2021
Los Angeles Unified on Friday plans to launch a student college savings program that will give thousands of first-graders their own college fund.
The program, called Opportunity L.A., is set to become the largest school district college savings program in the nation once it enrolls all first-grade students attending district schools. L.A. Unified, the state’s largest school district and the nation’s second-largest, enrolled over 35,000 first-grade students by the beginning of the current school year. The cost to fund students’ savings accounts during the first year would exceed $666,000, plus administrative, outreach and other related costs.
“The need for programs that take direct aim at closing opportunity gaps for our kids has never been greater, and we’re excited to lead the way here in Los Angeles,” said L.A. Unified board member Nick Melvoin, who has been in support of the program since it was first introduced to the board. The program is the result of a years-long collaboration between the school district, the city of Los Angeles and Los Angeles County.
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