Fresno, CA – Thousands of children across California, including many in the Central Valley, are eligible for free money for higher education through the CalKIDS program, but most have yet to claim it.
The California Kids Investment and Development Savings Program (CalKIDS), launched in the summer of 2022, aims to make college more attainable. As per to the official source of abc30
“The concept is how can the state make college more attainable for more families across the state,” said Noah Lightman, Manager of Children’s Savings Account Initiatives.
CalKIDS offers up to $175 for children born on or after July 1, 2022. Low-income students born before that date can qualify for up to $1,500.
The goal is to encourage families to start saving for higher education from birth. “Children with savings accounts are more likely to think about attending higher education,” Lightman added.
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The funds can be used for a wide range of educational expenses until the recipient turns 26, including tuition, room and board, fees, books, and equipment. Despite the minimal requirements, many eligible children have not registered for the program.
In Fresno County, 154,000 kids are eligible, but only 9,000 have registered. Similarly, in Merced County, only 3,000 of the 46,000 eligible kids have claimed their funds, and in Tulare County, just 5,000 out of 79,000 have registered.
The state is actively working to increase awareness and participation in the program. “Our number-one goal is making sure families are aware of this program and can easily take advantage of it,” Lightman said.
The funds can be used for a variety of educational paths, including two-year and four-year colleges, vocational schools, and apprenticeship programs.