Founded in 2011 by Mayor Gavin Newsom (now Governor) and Treasurer José Cisneros, K2C automatically opens a savings account seeded with $50 in public funds for every child entering kindergarten in SF’s public schools, putting students on a path to college from their first day of school.
Today, K2C’s impact is reflected in the significant growth and savings totals of our city's youngest scholars:
K2C financial impact stats: 57,000+ accounts, $1,098 average balance, and over $19.6 million in total savings.
Other Programs to Grow Savings for Your Kids and Family:
CalKIDS
CalKIDS is a California program that automatically provides eligible children born in California and qualifying public school students with a CalKIDS Scholarship Account and potential financial incentives for future education.
ScholarShare
ScholarShare 529 is California’s college savings plan that allows families to invest for future education expenses with tax-free earnings when used for qualified costs like tuition, books, and some housing.
530A Account
The 530A account is a tax-advantaged savings program that allows funds to be used for education, housing, or starting a business beginning at age 18, with a $1,000 pilot contribution for eligible children born 2025–2028.
CalSavers
CalSavers is California’s retirement savings program that provides workers access to a workplace IRA through automatic enrollment for employees whose employers do not offer a retirement plan.
CalABLE
CalABLE is California’s tax-advantaged savings and investment program that helps people with disabilities save for qualified expenses while maintaining important benefits.
HOPE
HOPE is a California program that gives $3,000 to eligible young people if they lost a parent during COVID-19 or experienced foster care.