CalKIDS College Savings Program Offers Financial Jumpstart for California Children
CalKIDS, a state program aimed at providing free money for college to all children in California, is gaining attention for its efforts to increase access to higher education. To help families understand the program and start saving for their child’s future, The San Diego County Office of Education is hosting a virtual webinar on Feb. 7 featuring representatives from the State of California.
The webinar, scheduled from 5:30 to 6:30 p.m., will offer valuable information on the CalKIDS College Savings Program. Registration is required to receive the webinar link, which can be done through the official website.
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What is CalKIDS?
CalKIDS, short for California Kids Investment and Development Savings Program, is designed to help eligible public school students by providing up to $1,500 in free money for college. Administered by the ScholarShare Investment Board, an agency of the State of California chaired by the state treasurer, CalKIDS aims to boost children’s college savings and encourage higher education.
How Does CalKIDS Work?
Every child born in California and eligible low-income public school students are automatically enrolled in the CalKIDS program. Enrollment is based on data received from the California Department of Public Health and the California Department of Education. Families are not required to take any action or make a financial commitment to participate in the program.
To ensure that your child receives the funds, it is necessary to register on the program’s online portal. The registration process does not require the disclosure of any taxpayer identification numbers, ensuring privacy and security.
Eligible newborns receive an initial deposit of up to $100 in their CalKIDS account, while K-12 students can receive up to $1,500. Additionally, students identified as low-income, foster youth, or experiencing homelessness may be eligible for additional funding.
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The CalKIDS College Savings Program seeks to provide a financial jumpstart for California children, empowering them to pursue their dreams of higher education. By offering free money for college, CalKIDS is making it easier for families to save and plan for their child’s future.
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