The California Kids Investment and Development Savings Program (CalKIDS) was created by the State of California to help more children have an opportunity to save for higher education. The program, administered by the ScholarShare Investment Board, will automatically provide newborns and eligible low-income public school children in California an initial seed deposit, plus other possible financial incentives so that they can start saving money for college.
All babies born in California on or after July 1, 2022, will receive up to $100 in a college savings account. Additionally, eligible low-income public school students may qualify to receive up to $1,500 in college savings for their future.*
CalKIDS accounts can also be linked with new or existing ScholarShare 529 accounts, where friends and family can deposit funds to a child’s account.
* Final seed deposits and financial incentives are subject to change and approval by the ScholarShare Investment Board.