Majority of automatic college savings unclaimed by SFUSD high school students

Over 30,000 low-income high school seniors in the San Francisco Unified School District have not claimed their Kindergarten to College (K2C) savings accounts, with only 29% accessing their funds. The K2C program provides an initial deposit of $50 and encourages families to save for education. Treasurer Jose Cisneros, who launched the initiative in 2011, highlights the role of these funds in fostering college aspirations. The average balance in K2C accounts is around $1,400, which can cover essential educational expenses. Despite efforts to inform families, a significant portion of the funds remains unclaimed, totaling $18.

5 million. The K2C and California Kids Investment and Development Savings Program (CalKIDS) aim to support underrepresented students, who have seen a 12% increase in college attendance since the programs began. Checking eligibility and accessing funds takes only 10 minutes online. The funds can be used for various educational purposes, including vocational schools and apprenticeship programs.