California Reinforces Commitment to Education with CalKIDS Program
Sacramento, CA — As 2023 draws to a close, California is taking significant strides to bolster educational opportunity for its youth through the California Kids Investment and Development Savings Program, commonly known as CalKIDS. With a billion statewide investment, this initiative is heralded as the largest education-focused asset-building effort in the United States, aiming to provide automatic scholarship accounts to over 5 million children across California. The program is designed to financially support students pursuing higher education or vocational training after high school.
During this holiday season, families are encouraged to consider the lasting impacts of investing in their children’s future, and establishing a CalKIDS Scholarship Account is a straightforward step. Eligible children and students stand to benefit from scholarship awards ranging from 5 to ,500. The process is notably accessible, requiring no applications, essays, or income verification. These funds are allocated for qualified educational expenses, making CalKIDS one of the most user-friendly scholarship opportunities available to California families.
State Treasurer Fiona Ma, CPA, who serves as Chair of the ScholarShare Investment Board responsible for administering the CalKIDS program, noted, “CalKIDS has been an amazing success, with nearly 1 million scholarship accounts already claimed by California families.” As we transition into the new year, she emphasized the importance of utilizing these scholarship dollars, which aim to alleviate the financial burden of college tuition and career training.
Over 60% of public school students in grades 2 through 12 are eligible for CalKIDS Scholarship Accounts, which were first introduced in 2022. This initiative extends its benefits to students spanning elementary to high school levels, allowing current college attendees to access their funds until the age of 26. In addition, the program automatically allocates a CalKIDS Scholarship Account worth 5 for every newborn born in California on or after July 1, 2022. New parents can enhance this initial scholarship by linking it to a ScholarShare 529 College Savings Plan, facilitating further savings.
The flexibility of CalKIDS Scholarships is a notable feature; funds can be utilized for a variety of qualified educational expenses, including tuition, fees, textbooks, and necessary computer equipment at accredited institutions across the country. So far, nearly 150,000 students have benefited from these funds, enhancing their journeys toward academic accomplishments.
In the words of Bryan, a student at California State University, Fullerton, the CalKIDS program has provided “a financial ease into pursuing a degree,” underlining the invaluable role these scholarships play in shaping future leaders.
To claim a CalKIDS Scholarship, families can complete the process in minutes by visiting CalKIDS.org. Public school students, including those now in college, will need to provide their Statewide Student Identifier (SSID), accessible through school portals or report cards. For infants born in California post-July 1, 2022, parents will require the child’s date of birth and the Local Registration Number from the birth certificate.
As California continues its commitment to fostering educational opportunity, families are encouraged to explore the available CalKIDS Scholarship Accounts this holiday season. For more information about the program and to verify eligibility, individuals can visit CalKIDS.org. This initiative not only seeks to reduce educational costs but also aims to invest in the long-term success of the state’s youth, reflecting California’s dedication to building a robust and educated future workforce.
