Raising a kid in California? They may have a college savings account you don’t know about.

By Jacqueline Munis (CALMATTERS) – Nearly 3.7 million students and 667,000 newborns in California have money invested in a savings account to help pay for college. But most families don’t know the money is there. Citlali Lopez, a second-year psychology student at Sacramento State, found out a few months ago she had $500 sitting in a California Kids Investment and Development Savings Program (CalKIDS) account. Although she’s been eligible to use the funds since she graduated high school in 2022, she had no idea until her sister, who works at a nonprofit that supports low-income students with scholarships and financial aid, told her to check her eligibility. Lopez was skeptical at first, but found she was eligible and registered her account. “I was just really surprised that I was able to get some extra help,” she said. Financial aid had been top of mind for her and guided her decision to go to Sacramento State. She plans on using the money to finish general education classes over the summer if financial aid will not cover it. Citlali Lopez is a second-year student at Sacramento State University and a beneficiary of the state’s CalKIDS program. May 9, 2024. Photo by Miguel...