Early Wealth Building at Scale: Policy Lessons from California’s CalKIDS Program

Two students stand smiling wearing yellow shirts that read "College Bound CalKIDS"

To build a stronger, more stable economy and enduring democracy, we must confront our nation’s wealth and opportunity gaps. Early wealth building, through Children’s Savings Accounts (CSAs) and baby bond programs, is an effective strategy for addressing these issues. Today, California is scaling these efforts ambitiously. In this policy brief, Libby Schaaf, EdRedesign 2023-2025 By All Means Senior Fellow and the 50th Mayor of Oakland, California; outlines CSA programs, including CalKIDS, highlights the research and evidence on their impact, and shares challenges and actionable recommendations to make CSA programs more effective.

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