More than 260,000 California second graders started this school year with scholarship funds that will continue to grow during their K-12 journey to ultimately help them prepare for college and career training.
The California Kids Investment and Development Savings (CalKIDS) program, launched in 2022, is a statewide Child Savings Account (CSA) program for low-income public school students that is designed to help pay for a student’s higher education.
Every eligible second grader is automatically awarded a minimum of $500 in their CalKIDS Scholarship Account. Foster youth and students experiencing homelessness receive an additional $500–$1,000, for a CalKIDS Scholarship Account worth up to $1,500.
Students enrolled in first grade on Fall Census Day are identified as eligible by the California Department of Education using the Local Control Funding Formula and are then awarded a CalKIDS Scholarship Account by the time they enter second grade. The account can be used for tuition, books, supplies or computer equipment at accredited institutions nationwide.
“Expanding CalKIDS participation each year is an investment in California’s future,” State Treasurer Fiona Ma said in a statement. “When families engage with a CalKIDS account early, it can help foster higher aspirations and support long-term academic success.”
Research shows that children with even modest savings are about three times more likely to attend college and four times more likely to graduate. For example, San Francisco’s Kindergarten to College program, which provides every child entering kindergarten with a Children’s Savings Account seeded with $50 toward their future education, led to significantly more young people enrolling in college with underrepresented students seeing the greatest benefit.
More than 5 million accounts have been created — with $2.2 billion invested — for California students. According to state leaders, more than 650,000 families have claimed their CalKIDS Scholarships to date, and over $60 million has already been distributed to help more than 110,000 students pay for college and career training expenses.
Jami Parsons, deputy executive director of the California Association of School Counselors, noted that the beginning of the school year presents an opportune time for schools to share information with families about the CalKIDS program.
“School counselors play a critical role in helping families plan for college and career training, and CalKIDS is a powerful tool to start that conversation early — especially for those who might not have seen higher education as an option before,” Parsons said.
