Stephanie Martinez Anaya, a former senior at Hamilton High in Anza back in 2023, got some insider info from her college success coach about scholarship moolah for college or career training. The cash, ranging from $500 to $1,500, is automatically stashed in an interest-earning savings account, courtesy of the California Kids Investment and Development Savings program (CalKIDS), a state initiative for eligible low-income students and English learners in the public school system.
Launched in 2022, CalKIDS aims to help families save up for college or career training and cut down on costs. Martinez Anaya was thrilled about the financial cushion, saying, “Even if stuff pops up unexpectedly, I won’t have to stress about it.” And pop up, they did. While in college, she dipped into her $530, $30 of which was interest, to snag homework access for her UC Riverside classes.
Martinez Anaya now sings the praises of CalKIDS as a coach for the California Student Opportunity and Access Program (Cal-SOAP), lending a hand to high schoolers with college and scholarship applications. The Cal-SOAP-CalKIDS duo shows how spreading the word about CalKIDS through personal stories in local communities can make a real impact, according to Libby Schaaf, co-author of a research report called Advancing CalKIDS.
Schaaf’s research emphasizes the need for CalKIDS to step up its game by teaming up with community partners to reach more eligible students. The program, although still in its toddler stage at not even 3 years old, is ripe for enhancements and changes to reach more families, as per Schaaf’s report.
Who’s in on the action? Low-income public school students and English learners are in the money, baby. If they were in grades 1-12 during the 2021-22 school year, were in first grade during the 2022-23 school year, or are first graders in the following years, they automatically get $500. Foster youth and homeless students get an extra $500 each. Even children born in California get $100 in an account, no matter their folks’ income. Over 3.9 million school-aged kiddos now qualify for at least $500 with CalKIDS.
As of March 31, only 12% of students had claimed their CalKIDS account, a slight bump from last year but still a long shot from reaching most students in the state. Schaaf suggests some strategic moves to get more students on board, including roping in counties and school districts to take more initiative.
The CalKIDS crew is already putting some of these strategies into motion. Schaaf, drawing from her personal experience as the daughter of a dad who stressed the importance of education, knows firsthand the value of saving up for college. As the former mayor of Oakland and co-founder of Oakland Promise, a program that supports students from cradle to career, Schaaf’s research is backed by her real-world experience.
Her research, conducted over the past year, highlights the importance of community partnerships in spreading the word about CalKIDS. By teaming up with organizations like EverFi, Golden 1 Credit Union, and Covered California, CalKIDS is making waves and helping families access their accounts.
Schaaf also recommends certifying community partners as CalKIDS ambassadors to lend a hand in promoting the program. The blend of government backing and community trust is a winning combo, according to Schaaf.
The key to CalKIDS’ success? Leveraging community partnerships and getting the word out to families who may not be aware of the program. With a little tweaking and some strategic moves, CalKIDS has the potential to make a big impact on students’ lives, one savings account at a time.
