A huge pot of money is sitting unused, waiting to help California families pay for college. The state’s CalKIDS program has allocated hundreds of millions of dollars in college savings accounts, but most of it remains unclaimed.
Who’s Eligible?
- All Californians born after July 1, 2022 are eligible for at least $175.
- Low-income public school students from the 2021-2022 school year onward get $500.
- Foster youth receive an extra $500 on top of the low-income student amount.
- Homeless youth get another $500, bringing their total to $1,500.
The Problem: Spreading the Word
While four million accounts have been created, only 450,000 have been claimed, leaving over $621 million on the table. CalKIDS officials say they’ve struggled to get the word out about the program.
How to Check Your Eligibility
CalKIDS has launched an online tool to help potential participants see if they qualify. You can find it on the CalKIDS website.
How to Use the Money
The funds must be used for higher education or instructional programs. This includes things like tuition, rent, equipment, and training.
Don’t Miss Out!
If you’re a California family with a child who might be eligible for CalKIDS, it’s worth checking out. This could be a significant boost towards your child’s future education.
