California has launched the nation's largest college savings program for millions of low-income public school students. Here's what you need to know:
is a taxpayer funded scholarship program that encourages kids to start saving for college as soon as they're born. The program invests $1.9 billion into accounts for low-income children in grades 1-12 and for newborn children born on or after July 1 of this year.
The seed investments grant every newborn up to $100 and between $500 and $1,500 for school-age children. "California is telling our students that we believe they're college material - not only do we believe it, we'll invest in them directly," Newsom said in a statement. "With up to $1,500, we're transforming lives, generating college-going mindsets, and creating generational wealth for millions of Californians."
The tax-free money is invested in a mutual fund managed by ScholarShare, the state's college savings plan. Then it can be used for tuition and books. CalKIDS will send notification letters to qualifying children and families in the coming months, officials said.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Gov. Newsom nominates Justice Patricia Guerrero as California's next chief justicePatricia Guerrero, who joined the California Supreme Court as an associate justice in March, is nominated by Gov. Newsom to serve as chief justice.
Weiterlesen »
WATCH LIVE: Gov. Newsom to discuss drought, CA water use during Bay Area visitWATCH LIVE: Gov. Newsom to announce new water supply actions to adapt to hotter, drier conditions caused by climate change
Weiterlesen »
WATCH LIVE: Gov. Newsom to discuss drought, CA water use during Bay Area visitWATCH LIVE: Gov. Newsom to discuss drought, California water use during Bay Area visit
Weiterlesen »
Top California environmental official leaving for privately funded climate initiativeJared Blumenfeld, California’s top environmental regulator and a key climate adviser to Gov. Gavin Newsom, will leave the administration at the end of the month, Newsom announced Friday.
Weiterlesen »
Newsom picks Patricia Guerrero, 1st Latina state Supreme Court chief justiceCalifornia Gov. Gavin Newsom on Wednesday nominated Patricia Guerrero to be the state's next chief justice, picking the daughter of Mexican immigrants to lead the nation's largest judicial system.
Weiterlesen »
Newsom picks Patricia Guerrero as 1st Latina state Supreme Court chief justiceMAKING HISTORY: Gov. Newsom nominated Patricia Guerrero to be the state's next chief justice, picking the daughter of Mexican immigrants to lead the nation's largest judicial system.
Weiterlesen »