According to a recent report, a massive fund intended to assist families in saving money for college has been largely underutilized.
KXTV, an ABC affiliate news station reports that California’s CalKIDS program has allotted hundreds of millions in savings for college. These funds are still untouched.
Fund offers $175 for Californians who were born after 1 July 2022 and low-income public school students from 2021-2022.
Only 450,000 of the four million accounts created are being claimed. More than $621 millions are left on the table.
The fund increases the grant amount to $500 for students in public schools who are low-income.
The homeless also receive $500, for a total per account of up to $1,500.
CalKids’ outreach specialist says that the program is struggling to get the message out.
CalKids launched an online eligibility tool to help potential participants determine if they are eligible.
Participants are encouraged to use the funds for tuition, rental, training, and equipment.
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The content of this post, $621,000,000 Untapped and Available in Massive State Funds for Families: A Report, may change as new information becomes available.
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