Consider Opening a CalKIDS and ScholarShare 529 College Savings Account

Through CalKIDS, eligible California children can receive up to $1,500 to help cover future college expenses—providing a valuable early boost toward higher education. Families who open a new ScholarShare 529 account between May 20 and May 31, 2025, and contribute at least $50 using the promo code 529Day25, will receive a $50 bonus.

How It Works

• CalKIDS provides seed money to help your child start saving for college. Eligible children are automatically enrolled and receive funds in a CalKIDS account. However, parents or guardians must register and activate the account online to claim and access the money.
• If you want to add funds toward your child’s college education, you’ll need to open a ScholarShare 529 account. This account allows you to deposit money and grow savings over time, benefiting from tax advantages designed for college expenses.
• Once you’ve created both accounts, you can link them together. The CalKIDS account will hold the seed money provided by the program, while the ScholarShare 529 account allows you to contribute and grow your savings.

Who qualifies for a CalKIDS account?

• Newborns: Every child born in California after July 1, 2022, gets a $25 seed deposit with the potential to earn up to $75 more once a parent opens and links their account.
• School-Aged Students: Certain children from 1st to 12th grade automatically receive $500 in seed funding, plus an additional $1,000 if they are foster youth or experiencing homelessness. Some criteria that will qualify a school-aged student for CalKIDS include:
  
  • Free or reduced lunch recipients
  • Participants in CalFresh, CalWorks, or Medi-Cal
  • Designation as an English Language Learner

Enrollment is automatic for eligible children. Parents just need to register online to access funds in their CalKIDS accounts.

‍Check if your child qualifies and register their CalKIDS account today.

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