3.4 Million California Kids To Get College Savings Account, Who's Eligible?

3.4 million children are now getting college savings accounts through the state of California.

Governor Gavin Newsom announced millions of kids now have college money in their names through a statewide initiative called California Kids Investment and Savings Development Program (CalKIDS).

Fox 5 San Diego says the program is giving students up to 1,500 dollars and newborns up to 100 dollars.

Students in low-income eligible public schools can get a starting fund of 500 dollars.

Those in foster care can get an additional 500 dollars and those who are homeless can get an extra 500 dollars.

Parents of newborns get a starting seed fund of 25 dollars, those that register through the online portal can get an additional 25 dollars for their child’s seed fund, and those who link the new account to an existing 529 college savings account also get an additional 50 dollars.

The CalKIDS website has more.

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