The California Kids Investment and Development Savings Program (CalKIDS) is a universal savings account program launched in 2022 that creates 529 college savings accounts (CSAs) for every child born in the state of California. CalKIDS gives families a jumpstart in saving for future college or career training.
Visit CalKIDS.org to learn more, check your eligibility, join the parent portal, and more!
About CalKIDS
CalKIDS was created by the State of California to expand access to higher education through savings. CalKIDS 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.
CalKIDS will serve a significant role for low to middle-income families with few assets, especially as postsecondary education remains a critical opportunity to increase lifetime earnings and achieve upward mobility. CalKIDS aims to make the dream of getting a college education a reality for every child in the State of California. Children with $500 or less designated for college savings are three times more likely to enroll in college and nearly four times more likely to graduate than children with no savings.
How Does CalKIDS Work?
CalKIDS will help families jumpstart their college savings by automatically establishing savings accounts for every baby born in the state and eligible low-income public school students enrolled in first through 12th grade.
Each child born in California will get a startup of at least $25 in their account. Each eligible student will get a startup of at least $500. Some recipients will be eligible for additional funds.
When the student is ready to utilize their savings to pay for any qualified higher education expense, they can simply redeem their funds, including any earnings, tax-free from their CalKIDS account and/or their own ScholarShare 529 account.
Newborns
Receive up to $100 in college savings for your newborn's future!
Babies born in California on or after July 1, 2022 receive the following CalKIDS awards, as applicable:*
- $25 seed deposit in a CalKIDS account for every eligible newborn
- $25 additional deposit in a CalKIDS account if you register on the Program online parent portal
- $50 additional deposit in a CalKIDS account if you link your existing or new ScholarShare 529 college savings account—where you, your family and friends can contribute to your baby’s savings—to your CalKIDS account
Students
Receive up to $1,500 in college savings for your child's future!
Eligible public school student participants receive the following CalKIDS awards, as applicable:*
- $500 automatic deposit in a CalKIDS account for eligible low-income public school students enrolled in first through 12th grade
- $500 additional deposit in a CalKIDS account for eligible students identified as a foster youth
- $500 additional deposit in a CalKIDS account for eligible students identified as homeless
*Final seed deposits and financial incentives are subject to change and approval by the ScholarShare Investment Board.
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 $13 billion in total plan assets as of December 31, 2021. Learn more and open a ScholarShare 529 account at ScholarShare529.com.