Los Angeles, CA launched the largest universal child savings program in the state of California
Los Angeles, CA universal college savings account program
The City of Los Angeles launched the largest universal child savings pilot program in the state of California. The city opened more than 40,000 college savings accounts with an initial deposit of $50. These accounts are available to all first-graders regardless of income or immigration status. The funding is intended solely for education costs after high school including two-year or four-year colleges, vocational schools, and trade schools.
Newsworthy
Can $50 change a child’s life? Los Angeles tests universal college savings account | US education | The Guardian
The city is to open more than 40,000 accounts to help kids save for college after programs elsewhere have shown promise
Starting In First Grade All LAUSD Students Will Now Get A College Savings Account | LAist
The accounts will start with $50 in seed money aimed at putting more students on the path to affording higher ed.
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