https://tinyurl.com/rcoecalkids

The state of California has a new program called CalKIDS that automatically creates college savings accounts for eligible low-income public-school students enrolled in first through 12th grade.

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CalKIDS will deposit between $500 to $1,500 in each CalKIDS account and eligible students will be able to use this money for qualified expenses when they enroll at an eligible education institution.

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Over time, funds in a CalKIDS account can grow tax-free and be used for future higher education expenses, such as tuition, books, computers, and room and board. When the student is ready to use their savings to pay for any qualified higher education expense, they can easily redeem their funds, including any earnings, from their CalKIDS account.

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Research shows that children with $500 or less designated for college savings are 3 times more likely to enroll in college and nearly 4 times more likely to graduate than children with no savings.¹

1. Source: (Elliott, W., Song, H-a, & Nam, I. (2013). Small-dollar children’s saving accounts and children’s college outcomes by income level. Children and Youth Services Review, 35 (3), p. 560-571).

It is never too early to start saving for college!

How Does CalKIDS Work?

$500

Every eligible low-income public school student in grades 1-12 will have a CalKIDS account created in their name with a deposit

of $500.

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Plus $500

Eligible students identified as foster

youth will receive an additional one-time deposit of $500.

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Plus $500

Eligible students identified as homeless will receive an

additional one-time deposit of $500.

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That's up

to $1,500 in free money for COLLEGE.

Who is Eligible?

What grade levels are eligible?

• All eligible low-income California public school students enrolled in 1st through 12th grades during the 2021-2022 academic year as provided by the California Department of Education.
• Starting the fall of 2023, and each year thereafter, each eligible low-income California public school 1ˢᵗ grade student as provided by the California Department of Education.

1st grade -

graduates of 2022!

Eligibility Tool - Check If Your Student Qualifies

Registering a CalKIDS Account

Go to CalKIDS.org

to register

• Registration Code: Statewide Student Identifier This is NOT typically the Student ID number at school - This is a 10-digit number that you get from the school. Sometimes it is available on your Parent Portal.
• Student’s date of birth.
• Name of the County where the student was enrolled
• on Fall Academic Census Day - October 6, 2021.
• and starting this fall the first Wednesday in October for subsequent year.

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What is needed to register student accounts:

CalKIDS.org

Steps to register an account for a student:

CalKIDS.org

Start Your Own College Savings Account!

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Making the Most Out of Your Savings

Link your CalKIDS account to your ScholarShare Account.

Use our Ugift program to encourage family

and friends to contribute.

For additional information go to

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ScholarShare529.com

Join a webinar or meet with a college savings consultant.

scholarshare529.com

Requesting a Distribution

Getting the Money -

once your student has been accepted

and enrolled

in college.

Request for Distribution

• May request all or a portion of their balance.

• Funds are requested through your CalKIDS account.

• Student must be at least 17 years of age to request distribution.
• Funds are available up to the age of 26.
• Self-certification student was a resident of California for the 12 months preceding the request.

• Enrolled in an eligible Institution.

• Eligible institutions include thousands of colleges, universities, and technical/ vocational schools across the nation that are eligible to participate in federal financial aid programs [FAFSA].

• Payments are sent directly to the institution for the benefit of the student.

• Taxpayer ID is NOT required.

• Log into CalKIDS Portal.
• Select Request Distribution.

• Student marks (self-certification) that they are enrolled in an eligible Institution.

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• Student marks (self-certification) that they were a resident of California for the 12 months preceding the request.

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• Account name from drop down.

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• Dollar amount of the disbursement.

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• Name and address of institution.

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• Student’s ID number issued by the institution they are attending.

Once approved, funds are paid directly to the Institution via check – student will need to discuss payment processing timeline with

the Institution.

Request for Distribution

FAQ’s

Support Center: 1(888)445-2377

Email: Support@CalKIDS.org

What If my child leaves California before enrolling in a qualified institution of higher education?

Program participants must reside in California for at least one year before they can use the funds in their CalKIDS account to pay for qualified higher education expenses at an eligible institution of higher education.

Will CalKIDS funds impact my ability to receive financial aid?

To the extent permissible under federal law, the CalKIDS award is owned by the state of California and as such should not count against your calculation of financial aid while the account is under the state of California’s control. Once the funds are paid out to the school of your choice, the financial aid office will coordinate the funds with your federal, state, and institutional financial aid. Please consult your financial aid office.

Will I need to provide a Social Security Number (SSN) or Individual Taxpayer Identification Number?

The CalKIDS Program does not require any taxpayer identification number to participate in the program.

FAQs

Can my child use funds from a CalKIDS account to attend a higher education institution outside of California?

Yes, eligible institution are defined for the program as “Eligible Educational Institutions” as that term is defined by and generally include postsecondary institutions that are eligible to participate in federal financial aid programs, which includes thousands of colleges, universities, and technical/vocational schools nationwide and even some abroad. For additional information, contact your school to determine if it qualifies as an eligible educational institution.

Do the Funds in my CalKIDS Account Expire?

Eligible Program participants have until age 26 to use all of the funds from their CalKIDS account.

FAQ’s

Questions

Thank you