Watching Your Wallet: How to get children set up on CalKIDS

FRESNO, Calif. (KFSN) -- A state scholarship is giving families a jump start on planning for the future.

"Studies show that students with even just a little bit of savings are three times more likely to attend and four times more likely to graduate from college," says CalKIDS Outreach Specialist Dana Salas.

The California Kids Investment and Development Savings Program, or CalKIDS, provides children born in California with college savings accounts, expanding access to higher education.

"It's one of the easiest scholarships anyone can get," Salas said. "There's no GPA minimum either. If students are eligible, the money is already set aside for them."

Salas says more than half of California high school students have money waiting for them.

"Sixty percent of all public school students here in California are eligible for a CalKIDS scholarship, and that's worth up to $1,500."

There's also money for newborns to claim. All children born in California on or after July 1, 2022, will receive up to $175 in a CalKIDS Scholarship Account.

"For students, they need to enter the student's SSID or the statewide student identifier," Salas said. "For newborns, they just need to enter their local registration number that's found on the birth certificate."

From there, you can claim your scholarship for educational expenses for higher education.

"That includes vocational schools, trade schools as well throughout the state and even out of state," Salas said. "These funds help to cover books, supplies, equipment, tuition and fees, and so these things for higher education can really be a big help for students."

When CalKIDS launched in 2022, the program awarded scholarship accounts to students from elementary school to high school.

Current college students may also be able to claim and use their CalKIDS Scholarship funds.

"Eligible children have until the age of 26 to claim and use their scholarship," Salas said.

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