20 THE BEST OF MONTEREY BAY® FAMILY 2026-2027 Life is increasingly expensive. And for parents, this everyday financial strain can make saving money seem impossible. “Many of the families we serve are doing their best to make ends meet and simply do not have extra income to set aside in a savings account,” says Tony Amezcua, director of the county-wide Bright Futures Educational Partnership. “Families frequently share that financial topics initially feel intimidating, especially when it comes to college costs, scholarships or savings programs.” But a new college savings account for California’s kids, paired with a solid foundation in financial literacy, can help families plan for their children’s futures. The CalKIDS scholarship automatically awards money for college to all children born in California on or after July 1, 2022, and eligible public school students. These funds, held in a college savings account until the student is 17, are worth up to $1,500 for eligible public school students. Babies’ families can register newborns beginning at just 90 days old for their starting $100. “CalKIDS is the easiest scholarship your child will ever receive,” Amezcua says. “There is no application, no interview or essays. This is money that already belongs to your child.” This initiative launched in 2022 and is the nation’s largest children’s development account program for higher education with more than 5 million youth enrolled. CalKIDS has distributed $53 million to nearly 100,000 students as of June 2025. CalKIDS scholarships are not limited to paying for tuition at a fouryear institution. Testimonials on the CalKIDS website describe students using their scholarships to pay for CalKIDS is a scholarship program that gives college funds to a majority of public school students in the state. COURTESY OF BRIGHT FUTURES OF MONTEREY COUNTY CAPTURE THE BAG Scholarship accounts are available for all California kids. But smart money decisions extend beyond college. By Caitlin Fillmore
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