First Steps Toward College
The California Kids Investment and Development Savings Program (CalKIDS) was created by the State of California to expand access to higher education through savings. CalKIDS, which is administered by the ScholarShare Investment Board, an agency of the State of California and chaired by the State Treasurer, will automatically provide newborns and eligible public school children in California with the tools to start saving for college, including an initial seed deposit and possible financial incentives in a college savings account.
ScholarShare 529 ScholarShare 529 serves as California’s official college savings plan. ScholarShare 529 provides families with a valuable tool that offers a diverse set of low-cost investment options, tax-deferred growth, and withdrawals free from state and federal taxes when used for qualified higher education expenses, such as tuition and fees, books, certain room and board costs, computer equipment, and other required supplies. ScholarShare 529 has been helping families save for college for more than 20 years and currently manages more than $11.8 billion in total plan assets as of March 31, 2021.