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States tackle college costs by creating saving accounts for kids

Words by Tess Becker

College continues to become more expensive in the United States. To help people pay for college in the future, some communities are starting programs to provide college funding much earlier in life.

One such program is CalKids in California, which will automatically set up college savings accounts with initial deposits of up to $100 for every baby born in California on or after July 1, 2022.

In addition, it will make a deposit up to $1,500 for each of the 3.4 million low-income public school students in first through 12th grade.

“The message from the state of California is: Not only do you matter, but every child deserves the right to pursue higher education in the state of California,” Julio Martinez, executive director of ScholarShare Investment Board, which oversees California’s ScholarShare 529 program, said.

“We are trying to create a college-going culture that is inclusive to all in a manner that is equitable, especially for the underserved and underrepresented in higher education.” 

Even affluent families are beginning to struggle to pay for college and programs like CalKids are offering opportunities to be able to afford college without much trouble.

There are a handful of organizations helping people afford college, if you're interested in supporting one check out We Will All Rise.

This article aligns with the UN SDG Climate Action.

This article aligns with the following UN SDGs

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