Few low-income Californians claiming kids’ free money in college savings accounts

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“Despite the fanfare surrounding its launch in August 2022, the California Kids Investment and Development Savings program (CalKIDS), a state initiative to help children from low income families save money for college or a career, has been underutilized as eligible families lack awareness about its existence. According to a March 6 announcement from CalKIDS, 300,000 students and families — a fraction of the 3.6 million eligible across the state — have accessed the state-funded account.”

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