By Ali Tadayon, EdSource, May 20, 2021
Giving low-income youth college savings accounts at a young age has emerged as a strategy across California to not only help families build financial assets, but also stoke tangible college aspirations.
Such programs have sprung up in Oakland, Los Angeles and several other cities since San Francisco became the first in California in 2011 under then-Mayor Gavin Newsom to give every child entering kindergarten at San Francisco Unified a college savings account with $50 funded by the city and county of San Francisco.
Los Angeles Unified will launch its program Friday by giving more than 13,000 of its 35,000 first-graders an account each with $50. It will expand to all first graders in the fall, making the program the largest district program in the country. The program has funding to enroll all first graders over the next few years.
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