LAUSD students are automatically enrolled in the free program, which gives them a college savings account with a $50 dollar seed deposit. Funds can be used for tuition, on-campus housing, and books.
"It's an issue of equity, giving everyone the opportunity to start out with an account with the same amount of dollars in it, that they can then take it and go take it as far as they can," Mitchell said.
The program is a collaborative effort between LAUSD, L.A. County, and the City of L.A. The initial roundwith select schools and created 35,000 savings accounts for first graders. This time around, all students will have access to an account regardless of their socioeconomic or immigration status. “This program will help even the playing field for those most in need so that pursuing post-secondary education is within reach for more children regardless of how much their family earns,” says Mitchell.
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