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Supervisors debate 'Kids to College' kindergarten savings pilot as DCYF, treasurer outline mechanics and costs
Summary
DCYF and the Treasurer presented a pilot to deposit $50 into college-savings accounts for 1,100 kindergartners in year one; supervisors pressed for clearer bank arrangements, funding breakdown, Prop H applicability and the split between startup staffing costs and direct family deposits.
The Budget & Finance Committee heard detailed presentations on a proposed "Kids to College" pilot program that would create college-savings accounts for kindergarten students in San Francisco public schools.
Taris Madison, DCYF budget director, and DCYF Director Maria Sue described a pilot that would place an initial $50 deposit in accounts for kindergarteners, with an additional $50 available to families who submit free/reduced lunch applications. DCYF said the pilot would target about 25 percent of incoming kindergartners in year one (approximately 1,100 of 4,200 total kindergartners), with a planned ramp-up that could reach all 4,200 by year…
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