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ScholarShare Investment Board reports that more than 260,000 California second graders are starting this school year with their very first scholarship through California Kids Investment and Development Savings — CalKIDS — program, the state’s landmark program that helps families prepare for college and career training.
In Plumas County, over 1,000 eligible public school students have more than $740,000 waiting to be claimed through CalKIDS, report program representatives. Families can visit CalKIDS.org to check eligibility and claim their child’s scholarship. “By taking just a few minutes to activate their accounts, Plumas County families can help ensure local students are set up for future college and career success,” said representative.
Each eligible second grader is automatically awarded a minimum of $500 in an individual CalKIDS scholarship account. Foster youth and students experiencing homelessness receive an additional $500 to $1,000, for a CalKIDS scholarship account worth up to $1,500.
Each year, a new group of students is added to the CalKIDS program. Eligibility is determined by the California Department of Education using the local control funding formula, which identifies students based on income criteria or as English learners.
California public school students enrolled in first grade on fall census day are identified as eligible and are then awarded a CalKIDS scholarship account by the time they enter second grade. The account can be used to support their future college and career goals.
“Expanding CalKIDS participation each year is an investment in California’s future,” said State Treasurer Fiona Ma. “When families engage with a CalKIDS account early, it can help foster higher aspirations and support long-term academic success.”
CalKIDS has become the nation’s largest child development account program, now with more than 5 million accounts created and $2.2 billion invested for California children and students. To date, more than 650,000 families have claimed their CalKIDS scholarships, and over $60 million has already been distributed to help more than 110,000 students pay for college and career training expenses.
“As students return to classrooms, it’s the perfect time to remind families about the CalKIDS program and the promise it holds for our students’ futures,” said Dr. Jami Parsons, deputy executive director of the California Association of School Counselors. “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.”
Research shows that children with even modest savings are three times more likely to attend college and four times more likely to graduate. With CalKIDS, every eligible student begins the path to college and career training with a scholarship — funds that are invested and may grow over time to eventually be used for tuition, books, supplies or computer equipment at accredited institutions nationwide.
Claiming a CalKIDS scholarship is quick, easy and takes just a few minutes, say representatives. To check eligibility and claim, parents and students can visit CalKIDS.org and use the student’s statewide student identifier, a 10-digit number which may be found on the K–12 school portal, transcript, report card or by contacting the school directly.
The California Kids Investment and Development Savings program is the nation’s largest child development account program, providing scholarships for higher education. Administered by the ScholarShare Investment Board and chaired by State Treasurer Fiona Ma, the program is designed to promote the pursuit of higher education statewide by empowering families to build assets, nurture savings habits and raise their educational aspirations.
Eligible public school students can receive CalKIDS scholarships worth up to $1,500 and every child born in California on or after July 1, 2022, is awarded a CalKIDS Scholarship worth up to $175, ensuring more families have the resources needed to support their children’s education.
More information is available at CalKIDS.org.
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